Microbrewers beer tax exemption

From the 2024 DOR Tax Exemption Study

66.24.290(3)(b) - Microbrewers beer tax exemption Description Microbreweries are exempt from the $4.78 per barrel portion of the beer excise tax on the first 60,000 barrels produced yearly. Purpose To mitigate the impact of a general tax increase in 1993 on a growing local industry. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $5.395 $5.449 $5.504 $5.559 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $5.000 $5.504 $5.559 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - The revenue impact grows by 1% a year. Data Sources - Liquor and Cannabis Board, Beer sales to importers and distributors Additional Additional Information Information Category: Business Year Enacted: 1993 Primary Beneficiaries: Microbreweries Taxpayer Count: 350 Program Inconsistency: None evident JLARC Review: Expedited review completed in 2014, and a full review completed in 2020 2024 Tax Exemption Study Page 4