Texas SB1554 provides a tax credit for donating spent grain byproducts from liquor or malt beverage production for agricultural use.

SB1554 amends the Alcoholic Beverage Code to introduce a tax credit for eligible taxpayers who donate spent grain byproducts from liquor or malt beverage production for agricultural purposes. Eligible taxpayers include those who pay taxes on liquor or malt beverages and hold certain permits or licenses, or those who pay taxes on imported liquor or malt beverages. The credit is calculated at $0.08 per pound of donated byproduct, with a maximum credit of $30,000 or the total taxes paid by the taxpayer in a fiscal year, whichever is less.

Texas SB1554 provides a tax credit for donating spent grain byproducts from liquor or malt beverage production for agricultural use.

SB1554 amends the Alcoholic Beverage Code to introduce a tax credit for eligible taxpayers who donate spent grain byproducts from liquor or malt beverage production for agricultural purposes. Eligible taxpayers include those who pay taxes on liquor or malt beverages and hold certain permits or licenses, or those who pay taxes on imported liquor or malt beverages. The credit is calculated at $0.08 per pound of donated byproduct, with a maximum credit of $30,000 or the total taxes paid by the taxpayer in a fiscal year, whichever is less.