Iowa brewers receive tax break under federal tax changes
January 28, 2018
GLENWOOD, Iowa (AP) — Iowa brewers are toasting the recently approved federal tax changes, saying a tax break targeting their industry could spur expansion and more profits.
Keg Creek Brewing is a large craft beer producer in southwest Iowa. Keg Creek is also one of the about 80 local breweries eligible for a tax break from President Donald Trump's tax plan that went into effect this month, the Des Moines Register reported .
The new "Craft Beverage Modernization and Tax Reform Act" approves a $3.50 barrel tax on the first 60,000 barrels made every year by breweries that produce fewer than...