U.S. SENATE—U.S. Senator Steve Daines’ bipartisan bill supporting Montana breweries and distilleries across the state was recently signed into law. Daines’ bill, the “Craft Beverage Modernization and Tax Reform Act,” provides permanent tax relief for small craft breweries and distilleries, supporting jobs across Montana.
“In Montana, we’re home to some of the best craft breweries in the country. Now, with my bipartisan bill being signed into law, these small businesses will have permanent tax relief which will create jobs across Montana and support our Montana barley growers,” Daines said.
Daines’ bill makes the excise tax relief enacted by the “2017 Tax Cuts and Jobs Act” permanent for small craft breweries at $3.50 per barrel on the first 60,000 barrels, and $16 per barrel thereafter up to 2,000,000 barrels. This bill also expands the wine producer tax credit and establishes reduced excise taxes for craft distilleries.
Background:
In December, Daines sent a letter urging Senate leadership to pass this legislation.
Daines supported a similar provision in the 2017 “Tax Cuts and Jobs Act.”
In February of 2018, Daines completed a four-day tour across Montana to see the benefits firsthand of these tax credits on Montana’s breweries.