ALBANY, N.Y. (AP) - New York Senate Majority Leader Dean Skelos says he expects a deal to be announced soon to maintain a price break for beer, which has helped New York's craft brewers grow.
A Belchertown, Mass., brewer had successfully sued to eliminate the price break for its New York competitors.
Skelos tells The Associated Press that closed-door negotiations with the Assembly and Gov. Andrew Cuomo developed a tax credit that will be substituted for the 14-cent-per-gallon exemption statewide and an additional 12-cent exemption per gallon for New York City brewers. Small, but thriving New York brewers enjoyed the exemption until a court ruled it unconstitutional.
Without the credit, brewers face an annual tax increase of $10,000 to $1 million dollars. That would limit their ability to continue to expand.
(Copyright 2012 by The Associated Press. All Rights Reserved.)