Trenton – Legislation sponsored by Senator James Beach, which would increase certain revenues credited to the “New Jersey Wine Promotion Account,” passed the Senate.
“The wine industry in the state is growing. It’s a lucrative market that generates a lot of revenue for the State,” said Senator Beach (D-Burlington/Essex). “By increasing the amount dedicated to this promotion account, we can provide additional funding to promote agritourism and draw more out of state visitors to New Jersey, ultimately, raising revenue.”
Wines, vermouth, and sparkling wines produced by New Jersey wineries are currently taxed $0.875 per gallon, $0.47 of which is dedicated to the New Jersey Wine Promotion Account.
Under the bill, S-3509, 100 percent of the tax imposed on the alcoholic beverages would go towards the promotion fund.
All monies received in the account are expended by the Secretary of Agriculture for research and development concerning the viticulture and wine-making processes in the state and for the promotion of New Jersey wine.
New Jersey wineries produce almost 2 million gallons of wine with a retail value of almost $30 million in 2016. The state has more than 50 licensed wineries.
The bill passed the Senate by a vote of 38-0.