The craft brewing industry is booming across North Carolina and much of the United States. While demand is high, competition continues to increase. Building your brand and your business requires making the right financial decisions and staying on the right side of tax and compliance issues. JPS serves breweries from startups to rapidly growing companies.
Our team provides income tax, property tax, assurance, accounting, and consulting services to growing breweries. We can help you plan financially for growth and sustainability while helping you minimize tax liability and ensure compliance with state and federal regulations. We help our brewery clients navigate critical financial and growth-related issues including:
- Economic incentives – starting a new business, expanding your business, or moving your operation will bring new jobs to a community. Grants, tax credits, abatements, and other valuable incentives may provide you with valuable savings.
- Sustainability – rapidly growing startups are also often the most short-lived. Sustaining success requires managing growth.
- Property tax strategies –personal property taxes levied on inventory and equipment and real property taxes can add up. Planning can minimize inventory values and reduce tax liability while some cities and counties may issue tax abatements to growing businesses.
- New regulations – special regulations may apply to the production and sale of alcoholic beverages. Compliance will help you grow without setbacks.
- Expansion – success will bring opportunities to expand. Knowing when and how to grow, including understanding the various options for obtaining the necessary capital that align with your long-term objectives.
- Renewable energy tax credits – state and federal tax incentives including the solar investment tax credit and 179D deduction provide opportunities for savings.
- State nexus – states define nexus (having a substantial physical presence) differently. Understanding state laws defining nexus will help ensure compliance and avoid surprising tax bills. Find out how JPS can be a strategic advantage for your brewery.
Find out how JPS can be a strategic advantage for your brewery.