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FET 2018 Tax Reduction


Lassiter Distilling Co

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Happy holidays everyone. I’m sure everyone is aware of the 80% FET reduction that will go into effect January 1.  Much needed, I’m sure we will all agree  

Has anyone been advised whether that new rate will apply to spirits removed from bond in 2018, or that spirits produced in 2017 but removed in 2018 will be subject to the 2017 FET rate? 

 

 

 

 

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The new rate of $2.70 applies to any product removed from bond on or after January 1st. Side note: if you are you a compliance service like Whiskey Systems, Distillery Solutions, etc. you should check with them to make sure the software is updated - if not you may have to report and pay 'old school' for the first few periods.

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