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InsuranceMan 2.0

FET Tax Cut Article

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All,

     I just wanted to share an article that I was honored to be featured in recently that discusses the new lower FET rates, and what needs to happen at a grass roots level in order to make sure that the rates are extended beyond the 2019 date.  I have done a lot of work with different groups in regards to the impact that this new rate has had throughout the industry but I would implore you, the owners of distilleries, do everyone a huge favor ... Document, document, document!  Of all the groups I have worked with, and all the discussions I have had, the most important factor in the very near future is going to be documentation.  

     If you are enjoying the new lower FET's, and you have been able to purchase new equipment, finally do that marketing campaign you have been dreaming of, or hire some new employees to increase your output, DOCUMENT IT!!!!!  Put real numbers to work for you.  If you have saved "X" amount of dollars due to the lower FET rate, and have reinvested that in the economy via purchases, employment, whatever, make sure you are documenting it and sharing it with your state guild, national associations, etc.  I am here to warn you, if this information is not produced and shared in concrete numbers, the government all-to-likely may not extend this wonderful incentive.  If no one can provide solid evidence as to the economic impact that this has had on the industry as a whole, there will be no incentive for the fed's to cut their own large source of funding any further.  I would also caution that these numbers have to be produced sooner than later due to the fact that these rates are due to expire at the end of 2019 unless action is taken.  That means that numbers for 2018 need to be pulled together and presented as soon as 2019 kicks off.  The government is a big ship and it turns slowly, meaning, these numbers cannot be produced in September of 2019 with the hopes of having anyone have time to look at them in time to have an impact.  Keep in mind that these lower FET's are due to "sunset" on December 31st, 2019 if action is not taken.  That is what I am asking of you all, to take action.  Start pulling your "economic impact" numbers together now, so that come the end of 2018, you can go into 2019 armed with the information needed to ensure that these lower rates are here to stay!

     Here is a link to the article in case you would like to check it out:  http://www.spiritedbiz.com/inside-spirits-making-the-tax-cut-permanent/ 

 

Best,

Aaron Linden

307-752-5961

     

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