Part of President Trump’s recently approved federal tax break is giving breweries in Iowa reason to celebrate. The new “Craft Beverage Modernization and Tax Reform Act” will cut the $7 barrel tax in half to $3.50 on the first 60,000 barrels made every year at breweries that make fewer than 2 million barrels a year.
Nick Newgard, the owner and Brewmaster from 2nd State Brewing Company in CF, shares how he sees the new tax break will benefit the industry:
The tax break is scheduled to end in 2019, but if it proves successful it may be extended or even become a permanent standard.