Alexandria, Va. – Today, National Beer Wholesalers Association (NBWA) President and CEO Craig Purser issued the following statement on the proposed rule from the Internal Revenue Service (IRS) and U.S. Treasury Department. The proposed rule includes a provision that would allow pass-through businesses to aggregate income from related business entities when calculating the new 20 percent tax deduction enacted as part of last year’s Tax Cuts and Jobs Act.
“We are encouraged that the Treasury Department and IRS have released a proposed rule that provides clarity and supports the ability of family-owned businesses – including America’s 3,000 independent beer distributors – to aggregate income from related business entities. The proposed rule seeks to ensure that those who are operating family-owned businesses and creating jobs in their communities are treated fairly.
“America’s independent beer distributors are Main Street businesses that provide local good-paying, career-track jobs, and today’s guidance is an important first step in ensuring a broad application of the new deduction that was created for these family businesses.”
The National Beer Wholesalers Association (NBWA) represents America’s 3,000 independent beer distributors with operations in every state, congressional district and media market across the country. Licensed at the federal and state levels, beer distributors get bottles, cans, cases and kegs from a brewer or importer to stores, restaurants and other licensed retail accounts through a transparent and accountable regulatory system. Distributors build brands of all sizes -- from familiar domestic beers to new startup labels and imports from around the world – and generate enormous consumer choice while supporting 135,000 quality jobs in their home communities. Beer distributors work locally to keep communities safe by sponsoring programs to promote responsible consumption, combat drunk driving and work to eliminate underage drinking.