Grisanti Law Signed By Cuomo Supports Craft Beer Industry | Business
Senator Mark Grisanti (R-60) today announced that Governor Cuomo has signed a package of laws to support the craft beer industry. This legislation will help increase demand for locally grown farmer products, support local breweries and wineries and expand industry related economic development and tourism The laws keeps intact a tax benefit for small beer breweries, exempts those that produce small batches of beer from paying an annual State Liquor Authority fee, and creates a “Farm Brewery License” so craft breweries can expand their operations through opening restaurants or selling beer related products. Grisanti sponsored the original Bill S. 5829 that sought to help small craft breweries expand their operations to include shops or restaurants.
”The Empire State needs to become a more business friendly state and the economic stimulus in this package of laws moves us in the right direction. I applaud Governor Cuomo for demonstrating his support of both the agriculture industry and small businesses by helping to ease the tax burden on these essential job creating and growing areas,” said Senator Mark Grisanti, Chairman of the Environmental Conservation Committee. “Local beer breweries will especially find these targeted tax breaks provide the opportunity for more diversification to expand their businesses and market their products just like wineries.”
"In addition to producing some of the finest beer in the world, New York's craft breweries are creating jobs, supporting our state's farmers and hops growers, as well as bringing in tourism dollars in local communities across New York," Governor Cuomo said. "The legislation signed today demonstrates that the new New York is truly working for small business, as this law will allow breweries and wineries the opportunity to invest in new opportunities and expand their operations. I commend the bill sponsors and legislative leaders for their work on this important law."
New York will protect a tax benefit for breweries with this legislation. Any brewery that produces 60 million or fewer gallons of beer in New York will now be eligible for a refundable tax credit applied against New York State personal income and business taxes. Also small Breweries will now be exempt from paying the annual State Liquor Authority Fee. Breweries that produce brands of 1,500 barrels or less annually (regardless of location) are now exempt from the $150 annual brand label fee.
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