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The Times
  • Cuomo signs beer tax break legislation

  • Gov. Andrew Cuomo visited F.X. Matt Brewing Co. Wednesday morning to sign legislation that will preserve a major tax benefit for New York craft breweries.

    Cuomo was joined by the bill’s sponsors, Assemblyman Anthony Brindisi, D - Utica, and state Sen. Joseph Griffo, R - Rome, as well as brewery Chief Executive Officer Nick Matt and other local leaders.

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  • Gov. Andrew Cuomo visited F.X. Matt Brewing Co. Wednesday morning to sign legislation that will preserve a major tax benefit for New York craft breweries.
    Cuomo was joined by the bill’s sponsors, Assemblyman Anthony Brindisi, D - Utica, and state Sen. Joseph Griffo, R - Rome, as well as brewery Chief Executive Officer Nick Matt and other local leaders.
    “In addition to producing some of the finest beer in the world, New York’s craft breweries are creating jobs, supporting our state farmers and hops growers and bringing in tourism dollars in local communities across New York,” Cuomo said.
    There are more than 100 craft breweries across New York, including Utica’s.
    The four-part legislation reinstates a refundable tax credit for New York income and business taxes.
    In March, the New York State Supreme Court ruled the state’s excise tax was unconstitutional.
    The tax would have been costly for F.X. Matt Brewery, said Matt.
    “It would have meant $300,000 in taxes and fees we had never paid before,” he said.
    The new tax credit is worth 14 cents per gallon for the first 500,000 gallons and 4.5 cents per gallon for the next 15 million gallons. The credit also exempts small breweries that produce less than 1,500 barrels from the state’s $150 brand label fee.
    The third portion of the bill creates a farm brewery license. Craft breweries that use products grown in New York can now operate in a similar fashion to the state’s farm wineries. In order to receive a license, the beer must be primarily made from locally grown farm products.
    The license has progressively higher requirements in order for a brewery to qualify. By 2024, at least 90 percent of the hops and 90 percent of the other ingredients in the beer must be grown or produced in New York.
    The final portion of the law exempts farm breweries, farm wineries and distilleries from reporting sales to restaurants, bars and other retailers.

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