Bubble Tax Modernization Act of 2024

The Bubble Tax Modernization Act of 2024 eliminates a tax distinction between certain low-alcohol wines and mead (honey-based alcoholic beverages) by updating the tax code. It defines "low alcohol by volume wine" to include still wines with up to 16% alcohol and a carbon dioxide limit of 0.64g per 100ml, applying the same tax treatment to these beverages as mead. This change directly affects winemakers and mead producers who sell low-alcohol beverages meeting these specifications. The new rules will apply to wine removed from production after December 31, 2024.