An Associated Press article from earlier this month reported that, “New York’s craft beer, wine, cider and liquor manufactures have saved nearly $15 million since a series of regulatory reforms and incentives were put in place in an effort to boost the industry.
“Democratic Gov. Andrew Cuomo announced the results on [March 8th].
“He says the savings followed the state’s decision to expand a production tax credit and cut a labeling fee. The reforms started in 2012.”
More specifically, a news release from Gov. Cuomo’s office indicated that, “Reforms to the Beer Production Tax Credit to include the wine, spirits and cider industries, have saved producers $12 million since 2012, and legislation exempting small beer, cider, and spirits manufacturers from brand label registration fees has resulted in more than $2.2 million in savings for small producers since enactment in 2013.
“In addition, at New York State’s first Wine, Beer and Spirits Summit in 2012, Governor Cuomo directed the State Liquor Authority to cut the fees for marketing permits in half, from $250 to $125, resulting in more than $154,000 in savings since 2012. Marketing permits allow craft manufacturers to conduct tastings and sales at off-site locations, including fairs, street festivals, and farmers markets.”
The release added that, “Acting Commissioner of Taxation and Finance Nonie Manion said, ‘The tax incentives put in place by Governor Cuomo have helped the craft beverage industry thrive statewide, promoting economic vitality and creating new jobs.'”
