Brewery officials discuss concerns if brewery tax cut sours

Brewery officials discuss concerns if brewery tax cut sours


(–DARRELL–)LAST YEAR, THE CRAFT BEER INDUSTRY CONTRIBUTED NEARLY 79- BILLION DOLLARS TO THE U.S. ECONOMY. BUT BREWERIES ACROSS THE COUNTRY ARE NOW CONCERNED FEDERAL TAX BREAKS THEY’VE RECEIVED OVER THE LAST TWO YEARS.. WILL BE NO MORE IF CONGRESS DOES NOT EXTEND THEM. JEREMY GARZA TRAVELED TO MONTAGUE COUNTY TODAY TO TALK WITH FOLKS AT NOCONA BEER AND BREWERY ABOUT HOW THIS WILL IMPACT THEM.(–JEREMY–) DARRELL — THE OWNERS ARE HOPING CONGRESS DOESN’T LET THE TAX CUT EXPIRE AT THE END OF THE YEAR BECAUSE IT GIVES SMALLER BREWERS A $3.50 TAX BREAK PER BARRELL. AND THEY SAY IT HAS DONE WONDERS FOR NOCONA BREWERY ALLOWING THEM TO SAVE MONEY TO BE PUT BACK INTO THEIR BUSINESS 3 IN 2017 — KEN KOLMEYER — THE OWNER OF NOCONA BEER AND BREWERY — RAISED A GLASS TO THE CRAFT BEVERAGE MODERNIZATION AND TAX REFORM ACT, WHICH LOWERED THE FEDERAL EXCISE TAX ON BREWERS WHO MAKE LESS THAN 2 MILLION BARRELS OF BEER EACH YEAR.KEN KOLMEYER- NOCONA BEER AND BREWERY OWNERTHE IMPACT ON CRAFT BREWERYS ON THIS ALTHOUGH IMPORTANT. DOUBLING IT IS GUNNA CREATE A NIGHTMARE FOR EVERYBODYOUR MARGINS ARE SLIM TO NOTHING AS IT IS OFFICIALS WITH THE THE BEER INSTITUTE SAY IT ALSO HELPED THE INDUSTRY GROW SUBSTANTIALLY OVER THE LAST TWO YEARS. çáááJIM MCGREEVY /THE BEER INSTITUTE áááÑ”Allowed them to spend the money innovating in their brewery, rehabbing their physical plants, building out their physical plantKEN KOLMEYER-NOCONA BEER AND BREWERY OWNERIT ADDS JOBS AND VISIBILITY FOR SMALLER COMMUNITIES AND AMAZINGLY THIS BECOMES A FOCUS POINT AND ATTRACTS MORE AND MORE PEOPLE NOT JUST FROM NOCONA AND NOT JUST FROM WORKING BUT AS A DESTINATION. WITH THE NATIONWIDE TAX CREDIT SET TO EXPIRE TO DECEMBER — KOLMEYER IS ALREADY CHANGING SOME OF THE WAYS HE DOES BUSINESSES… JUST IN CASE.HE BELIEVES IF MANY OTHER BREWERIES DON’T FIND WAYS TO ADJUST — MANY MORE WILL GO BANKRUPT.KEN KOLMEYER-NOCONA BEER AND BREWERY OWNERWE ARE REALLY THE ONLY BREWERY IN THE STATE THAT HAS DONE THAT WHERE THE OWNER OF THE RECIPIES DOESNT HAVE ANYTHING TO DO WITH THE ALCOHOL AND HE GETS PAID A SMALL PERCENTAGE OF OUR GROSS SALES IN THE MEAN TIME KOLMEYER IS WATCHING CLOSELY TO OUR NATION’S CAPITOL — HOPING CONGRESS WILL ACT BEFORE THE TAPS RUN DRY… 3 (–JEREMY–)NOW THAT THE OWNER HAS ADJUSTED HIS BUSINESS STRATEGY JUST IN CASE THINGS DON’T GO HIS WAY — HE STILL PLANS TO EXPAND THE BREWERY BY BRINGING IN MORE LIVE MUSIC, HAVING A DANCE HALL, FOOD AND FESTIVALS THAT CAN BE HOSTED ON-SITE. THERE’S LEGISLATION IN WASHINGTON THAT WOULD EXTEND THE TAX CUT, BUT IT IS SITTING IN COMMITTEE. (–DARRELL–)JEREMY, THANK YOU! 3 (–DARRELL–)STILL TO COME — A SPECIAL THANK YOU TO THOSE WHO HELP FOSTER KIDS IN OUR COMMUNITY.((—-))PLUS A WORD

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