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Proposal Looks To Raise Tax On Wine 12,675% – KSBW-TV –

April 2, 2010

Proposal Looks To Raise Tax On Wine 12,675% – KSBW-TV –

Five Dollar a bottle wine tax right now is only a ballot  initiative that is in the gathering signatures stage. I don’t think this thing has any chance of passing but stranger things have happened. If they need to raise the money they could conceivably raise the tax even doubling it from 4 cents a bottle to 8 cents that would create a large pool of money without killing this industry.

But perhaps the goal is to kill the industry if you look at some of these numbers a lot of bottles today in the under 10 range would be over half  taxes. and things like two buck chuck would go up to 7 dollars or so with five dollars being the tax. This would create a large consolidation in the California wine industry as many smaller growers can’t compete with the deeper pockets of the larger growers. Many companies would simply abandon the California market altogether.

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From → money, people

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