Nick & Fred Matt of FX Matt Chime in on NY Tax Changes

imageThis from the timesunion:

From our perspective, Matt Brewing Company, best known for our Saranac brands of craft beer, should be the poster brewery for the state and why it pays to invest in hometown businesses: because we invest in New York. In 2008, we chose to stay open and reinvest in our city and our state, retaining over 100 jobs. Our business has grown roughly 60 percent since the fire, and during that time we have invested over $15 million in our business. We use New York based suppliers, have added 15 new jobs in a horrible economy and continue to source New York first, spending over $9.2 million annually with other New York businesses.

So you can imagine our surprise when on Friday, March 30, we got a call at 7:30 p.m. telling us that our New York state excise tax exemption, which had been in place since 1989, was being discontinued. We were to begin paying state excise taxes effective March 28 — two days before we received the phone call. 

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