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132nd MAINE LEGISLATURE |
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LD 1855 |
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LR 950(02) |
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An Act to Impose
an Excise Tax on Spirits-based Cocktails Containing No More than 12 Percent
Alcohol |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Veterans and Legal Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$258,580 |
$300,700 |
$300,700 |
$300,700 |
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| Revenue |
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General Fund |
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($258,580) |
($300,700) |
($300,700) |
($300,700) |
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| Fiscal Detail
and Notes |
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This bill repeals
the 30¢ per gallon excise tax currently imposed on manufacturers of
low-alcohol spirits products when those products are sold to wholesaler
licensees. The Bureau of Alcoholic Beverages and Lottery Operations estimates
that eliminating this tax will reduce General Fund revenue by approximately
$258,580 in fiscal year 2025-26 and $300,700 in fiscal year 2026-27. These
projections are based on tax collections from low-alcohol spirits product
sales in fiscal year 2023-24. |
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