Earlier this week, US Customs and Border Protection (CBP) issued further guidance on the procedures for importers to take the lower tax rates and credits available under the Craft Beverage Modernization Act (CBMA).

Key points of the new guidance:

  1. CBP will process drawback claims on an oldest-entry-first basis.
  2. Failure to substantiate drawback claims by January 31, 2019, risks a loss of the CBMA rates/credits for the entries in question.
  3. Going forward, every entry seeking to claim CBMA rates/credits must be accompanied by a CBMA Spreadsheet based on a template provided by CBP.
  4. Each importer must also submit a Controlled Group Spreadsheet, based on a template provided by CBP, for each controlled group it belongs to (foreign producers have the option of providing this information directly to CBP). Importers are responsible for immediately reporting to CBP any changes to the information in the Controlled Group Spreadsheet.
  5. Each foreign producer must provide their importer or CBP with an Assignment Certification based on a template provided by CBP.

With this guidance, importers can now start benefiting from the CBMA lower rates and credits on entries going forward, and make drawback claims for imports entered since January 1, 2018.

Over the past few years, news headlines have been filled with reports of large data security breaches impacting major brand names and affecting millions of people. It seems like with each new day comes a new breach. The reports are alarming for businesses and consumers alike.

No industry is immune from the soaring increase in data security breaches—not even craft brewing. Many small businesses owners erroneously believe they are too small to attract a hacker or fall victim to a breach. Scotty’s Brewhouse, the Indiana-based brewery and restaurant chain, experienced a data breach in January 2017 when an employee emailed 4,000 employee W-2 tax forms to an unknown scammer posing as the brewery’s CEO. Continue Reading.

Originally published in the January/February 2018 issue of The New Brewer.