Tax Bill to Benefit Vineyard Owners

The online publication Wines & Vines had an article called Tax Bill to Benefit Vineyard Owners. Section 13201 of this bill allows “plants bearing fruits and nuts” to be fully depreciated in the year they are planted. The 100% depreciation will apply to “a plant which is planted or grafted after Sept. 27, 2017, and before Jan. 1, 2023.”
The Tax Cuts and Jobs Act also creates a excise tax credit that reduces the effective rate:

For small wineries like ours, while the federal excise tax on table wine will remain unchanged at $1.07 per gallon there will be a new tax credit of $1.00 on the first 30,000 gallons produced, making the effective tax rate $0.07 (seven cents) per gallon. The caveat here is that these federal excise tax provisions are programmed to expire on December 31, 2019.
More interesting reading at WineAmerica on:
WineAmerica Applauds Passage of Federal Alcohol Excise Tax Reform.
All of this sounds good to us.