CBMA End of Year Recap

Posted 12/20/2018

The end of 2018 is fast approaching! Make sure that you are set up to obtain your tax credits and reduced rates on your upcoming 2019 shipments!

Here are some things you can do to set yourself up for success in the 2019 year:

  • Obtain your assignment letters from your suppliers for the 2019 year
  • Provide assignment letters to your customs broker with instructions to file applicable CBMA tax rate
  • Track your gallons per supplier per each shipment/entry to make sure to apply the appropriate rates
  • If you are eligible, but do not have your assignment letters yet, tell your broker to "flag" the entry with the C designator
  • Prepare your controlled group spreadsheets and take action on who will prepare the CBMA spreadsheets

WSSA has been keeping track of the new tax reform bill – the Craft Beverage Modernization Act (CBMA) since its conception, and we have prepared a complete summary of the impact and guidelines for obtaining the credits, along with a program to assist our members in the analysis and processing. If you need assistance in this area, we are happy to help.

Call us today to set up a consultation!