On December 20, 2019, the President signed into law the Further Consolidated Appropriations Act, 2020, which extends the Craft Beverage Modernization (CBMA) provisions of the Tax Cuts and Jobs Act of 2017 for one year, through December 31, 2020.
The new law also retroactively applies the pre-CBMA small wine producer credit transfer provisions to the CBMA wine credits as if those credit transfer provisions had applied since January 2018. This is big news for many of our custom crush clients!
CLICK HERE to read the official announcement from the TTB.
InnoVint is closely monitoring TTB news for any updates to the current 5120.17 form. If you have any questions about generating the TTB report in InnoVint, please reach out to our team at firstname.lastname@example.org.
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