Source: NY STATE SOCIETY OF CPA'S, 8/3/18


The Trump administration is challenging a tax benefit available to companies that import and export wine, but not those dealing in beer and hard liquor, according to the Wall Street Journal.  The benefit, amounting to $50 million a year, arose from a 2004 decision by a Customs and Boarder Patrol office in San Francisco. When a company imports wine, it must pay an excise tax. Similarly, when it produces wine domestically, it is supposed to pay an excise tax. Then, when it exports the domestic wine, it can claim a refund of the taxes paid on its imports, called a drawback.

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