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Michael Verderosa CPA, P.C. provides the liquor wholesale industry with a comprehensive suite of accounting, tax, and business advisory services designed to help you manage your finances, maintain compliance, improve profitability, and achieve your growth objectives.
Running a liquor wholesale business means more than moving cases. You carry excise tax obligations, tight inventory margins, licensing requirements, and retailer receivables that a general bookkeeper isn’t set up to handle. At Michael Verderosa CPA, P.C., we help wholesalers and distributors in US keep clean books, file on time, and protect their licenses.
Alcoholic Beverage Tax (ABT) compliance
All distributors of alcoholic beverages in New York must be registered with the Tax Department for the ABT. Distributors file returns and pay the tax on product sold in New York monthly. We prepare and file your monthly returns, reconcile them to your sales records, and handle the additional tax that applies to sales of liquor over 24% ABV and beer sold or used in New York City. We also track exempt transfers between registered distributors, including the TP-218 interdistributary exemption.
Federal excise tax and sales tax
We keep your federal excise tax records and New York sales tax filings organized, so nothing falls through the cracks between agencies. That includes sales made without collecting tax to exempt buyers and other wholesalers, and any annual reporting a licensed wholesaler must file.
Inventory and cost accounting
Excise tax, freight, breakage, samples, and volume discounts all affect your true cost per case. We set up inventory tracking and costing that shows real margins by brand, supplier, and customer. We also account for products used at tastings, which are treated differently for tax purposes: products removed from inventory for tastings held under the ABC Law are not subject to the ABT.
Delivery and record-keeping support
The state has documentation rules for moving product. For example, transporting more than 90 liters of liquor within New York requires a consecutively numbered manifest and records available to the Tax Department on request. Invoices to purchasers must also be issued at delivery and carry specific information. We help you build bookkeeping and invoicing workflows that meet these requirements.
Bookkeeping, QuickBooks, and cash flow
We set up or clean up your QuickBooks file, reconcile accounts monthly, and deliver financial statements you can act on. We monitor receivables from retail accounts against payment-terms rules so slow-paying customers don’t strain your cash.
Payroll, sales commissions, and driver payroll
We manage payroll for warehouse staff, drivers, and commissioned sales reps, including federal, state, and local filings.
Tax planning and IRS representation
We plan around inventory valuation, entity structure, and equipment purchases (trucks, forklifts, warehouse buildouts). If a notice or audit arrives, we will present it to you before the IRS and state authorities.
Tax problems can become licensing problems. Businesses must show tax compliance to obtain or renew a liquor license, and the SLA can suspend or revoke licenses for tax violations. Staying current on excise and sales tax protects the license your whole business depends on.
At Michael Verderosa CPA, P.C., we help individuals and businesses in Mastic Beach, Patchogue, and across Suffolk County achieve financial stability through expert tax preparation, accounting, and IRS problem resolution. Our mission is simple: provide personalized solutions that make compliance easy and maximize your savings.
With 12+ years of experience in public and private accounting, Michael brings expertise from working with BDO (one of the world’s top 5 accounting firms) and Nature’s Bounty, a multi-billion-dollar corporation. This background allows us to deliver tailored tax strategies and accounting solutions for both small businesses and individuals in Long Island and New York.
Michael specializes in:
Do liquor wholesalers pay sales tax or excise tax?
Both can apply, depending on the transaction. Excise tax (the ABT) is paid by distributors on products sold or used in New York. Sales tax applies to certain sales, while sales to exempt organizations or to other wholesalers are handled differently. We map out which rules apply to your customer mix.
Can you help if my books are behind or my ABT filings are late?
Yes. We clean up the records, reconcile what was filed against what was sold, and work with the tax authorities to get you current. Fixing this before it reaches your license is the priority.
Can you set up my account before I open?
Yes. We can form your entity, set up QuickBooks with the right inventory and tax accounts, and build your filing calendar from day one.
Do you handle NYC-specific liquor tax?
Yes. Sales in New York City carry an additional tax, and we build that into your report.
Book a free consultation and we’ll review your current books, filings, and tax exposure, then give you an upfront quote.
We’re here to help you simplify accounting and achieve financial success. Whether you need tax planning, bookkeeping, payroll, or business consulting, our team is ready to provide personalized solutions. Fill out the form below or reach us by phone or email—we’ll respond promptly and guide you every step of the way.
82-84 E Main St Unit 5, Patchogue, NY 11772, USA
Michael@verderosacpas.com
631-657-6957
Book Your Private Consultation with Michael Verderosa Online.