Sen. Pushes Bill Lowering Tax On Hard Cider

Law360, New York (November 6, 2013, 5:11 PM EST) -- Sen. Joe Manchin, D-W.Va., said Wednesday he would sponsor a bill that would modernize the definition of "hard cider" in the Internal Revenue Code to reduce excise taxes on ciders containing alcohol, treating the beverages as beer instead of wine.

Already-high alcohol taxes are on the chopping block this year, with two other alcohol-related bills already submitted for congressional consideration. The Cider Investment and Development through Excise Tax Reduction Act would also increase the allowed alcohol by volume level in cider beverages from 7 percent to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.