Getting into the Brewing Industry
Do you like micro-brew? Interested in becoming involved in the brewing industry? Today, we look at the state and federal legislation and its impact on independent brewers, as well as their manufacture, distribution and retailing of their products. Find out more about how to start your own business We have with us Dennis Theodossis from Dixon Hughes Goodman LLP, located in Asheville, North Carolina. He has been with the firm for about eight years. His particular focus is breweries within the manufacturing and distribution space. Dixon Hughes Goodman LLP is the 17th largest accounting firm in the country with a footprint that spreads along the East Coast. Brewing Industry – Key Points Western North Carolina has experienced an expansion of microbreweries in in recent years. A three-tiered system separates the manufacture, distribution, and retailing of beer across all states. Different states have different limits on how much can produce before you have to use a wholesaler. Manufacturers may sell beer out of their tap room until they hit a certain threshold, rules depend on the state. Become familiar with the accounting and tax implications of your business operations. Taxes can be paid quarterly or monthly, depending on the amounts produced. Due to certain regulations, bars are sometimes required to operate as a private membership facility. If you have a restaurant component in your business, your brewery might not be considered as a manufacturer, which is not necessarily a good thing. Contacting an attorney prior to entering a co-packing agreement will save you time and money. You are required to file tax returns in their state when contract-brewing for out-of-state parties. Dennis explains recent developments concerning regulation and compliance in the industry. You definitely want to hear what Dennis has to say. Links and Contact Information Dixon Hughes Goodman LLP Dennis on LinkedIn Here are some of our featured free resources. How Can I Organize My Financials? Should I Have A Business Plan? What Steps Should I Take Towards Branding? How Can Marketing Bring In More Clients? The Start-Up Checklist What Type Of Corporation Should I Be? Things To Consider When Scaling A Business