As you go about your business, it also helps to stay apprised of what’s on the legal horizon so you can start thinking about what a new or updated law may mean to you and what you may need to do to ensure compliance.
Nutrition & Allergy Label Transparency
The U.S. Alcohol and Tobacco Tax and Trade Bureau (TTB) is in the midst of exploring mandatory disclosure rules to include nutritional information, ingredients, alcohol content, and major allergens on all cans and bottles.
In February and March, the TTB held listening sessions and collected public comments from brewers, winemakers, distillers, drinkers, and the general public as it considers whether alcoholic drinks should be labeled with the same nutritional information as other foods and beverages. This includes calories, carbs, fat, protein, and more, along with allergen information.
Small breweries and wineries are arguing against the requirement due to the burden of having annual lab tests; potential delays in label approvals and bringing products to market; and related revenue implications. In lieu of printing, some are advocating to follow the European Union’s lead of using QR codes to link to nutritional information. Proposed rules are expected to be introduced this year and, if adopted, a multi-year implementation will likely ensue.
CHEERS
The Creating Hospitality Economic Enhancement for Restaurants and Servers (CHEERS) Act was introduced to help restaurants, bars, and other businesses operating draft beer systems. The Act provides incentives to expand tap lines and keg equipment in commercial establishments, and to do so with energy efficiency top of mind.
With the backing of numerous industry groups, the CHEERS Act passed the U.S. House of Representatives in March and is now moving to the U.S. Senate for consideration. If all goes well, tax incentives for qualifying investments in energy-efficient systems will be expanded to include keg, tap, and draft line property. This could translate into significant savings for business owners and a boost for the environment.
Bubble Tax Modernization Act
In mid-January, the Bubble Tax Modernization Act was introduced to Congress with the goal of amending a carbonization tax disparity for lower alcohol cider, mead, and wine made with fruit.
Thanks to the Craft Beverage Modernization and Tax Reform Act, low-ABV carbonated grape wines are taxed at $1.07 a gallon. There is no carbonization tax on fruited beers, seltzers, and ready-to-drink cocktails. However, low-ABV fruit wine, cider, and mead have been left out of carbonation and tax advantages. The Bubble Tax Modernization Act seeks to level the playing field.
Talent-Related
Since the start of the year, a number of people-related laws have taken effect, impacting employers across industries. Changes impact interviewing and hiring practices, overtime rules, minimum wage, independent contractor rules, paid breast milk expression breaks and prenatal leave, pregnant workers fairness, and non-compete agreements. If you need assistance developing or executing an implementation plan to promote compliance, Visions Human Resource Services – an RBT CPAs affiliate – is available to help. Contact a client manager at info@VisionsHR.com or call 845-567-3978 for more information.
And, as always, if your organization needs any accounting, audit, tax, or advisory services, you can continue to count on RBT CPAs to do the job professionally, ethically, on time and within budget. Get in touch so we can show you how we can be Remarkably Better Together.
Please Note! Visions Human Resource Services – a wholly owned subsidiary of RBT CPAs, LLP – and RBT CPAs, LLP are not law firms. Nothing in this article should be construed as legal advice. Should you need legal advice, contact your legal counsel.
RBT CPAs is proud to say 100% of its work is prepared in America. Our company does not offshore work, so you always know who is handling your confidential financial data.
