Florida Provides Excise Tax Deductions for Unsellable Alcoholic Beverages

The Florida Governor signed a law creating a new statute that authorizes distributors of alcoholic beverages to claim excise tax deductions for products that become unsellable due to warehouse breakage, spoliation, evaporation, expiration, or unfitness for human consumption. The law takes effect immediately. [H.B. 1137, enacted 04/21/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.