Constellation Brands isn't quite sure whether legal cannabis is friend or foe to the alcohol industry. Either way, it wants in.
The new Republican tax law counts on a small, little-known federal agency to ensure a tax provision aimed at helping small liquor producers does not become a loophole large foreign distillers can exploit.
At issue is the law's tax cut for hard liquor producers, dropping a tax from $13.50 per proof gallon (a measure of the liquor's quantity and alcohol content) to $2.70 per proof gallon.
Dive Brief: Constellation Brands has purchased a minority interest in the Copper & Kings American Brandy Co., an independent distiller of brandy, absinthe and gin products, according to the Kentucky Distillers' Association. Financial details were not announced.
A major alcohol firm pulled all ads from Snapchat because it can't be 100% sure children weren't seeing them
Multi-billion pound drinks giant Diageo has suspended all its ads on Snapchat after the UK's advertising watchdog ruled that the alcohol firm couldn't be 100% sure its ads weren't being seen by underage users.
We first saw the news via The Wall Street Journal.
At the end of 2017, the U.S. Congress passed the first major tax reform legislation since 1986, and that legislation – the Tax Cuts and Jobs Act, which was signed into law by President Trump – will affect individuals and businesses across the country.
While parts of the alcohol industry have come under increased pressure over recent years, sparking a wave of consolidation among the likes of pub operators, distillers and brewers have proven to be resilient in both bull and bear markets, with strong market fundamentals sustaining demand for a tipple.
A market supported by booming population growth.
A new report has revealed that Brits can’t get enough of sparkling wine but Brexit and low yields could limit fizz supplies.
The UK’s sparkling wine trade saw volume sales increase 89% and up 206% by value in the last five years.
The market for Chinese alcohol sales is growing at a rapid pace with consumers acquiring a taste for premium and elusive products. Among the beneficiaries of the trend are wine and craft beers.
THE prospects for Scotch whisky in emerging markets are so exciting the risks posed by Brexit will not dampen its potential, one of the industry’s most respected figures has declared.
This post does not constitute tax advice. It summarizes changes in alcohol beverage excise tax laws to assist industry members in planning to implement the changes. Excise tax calculations and liability must be determined for each taxpayer based on numerous variables.