I met with the tax and legal gurus for their wisdom on what type of entity Lucid Brewing shall be. The choice was basically between a Limited Liability Company (LLC) or S-Corporation. I selected LLC, for now. A LLC gives more options for potential investment situations, like this really matters, since this assumes someone or someones will want to invest in Lucid Brewing. Seriously, I am open to investors, so send them my way, please. Once Lucid Brewing is creating revenue, and under the assumption I have no investors, I will change the company to an S-Corporation. An S-Corp gives an owner more flexibility around income taxes.
This past Friday and Saturday was spent at the Upper Mississippi Mash-Out (see previous post) judging home-brewed beer and consuming large amounts of locally brewed beer, both home-brewed and professionally brewed. All beers were very good. I entered a couple of beers, my Cream Ale took home a gold medal. I will post some of the feedback from the judges when I receive my score-sheets.
This week I am finalizing the LLC paperwork and looking around for potential brewery sites. The equipment search is quite a learning process. It is tough, when looking at a brewhouse, to figure out what is included and what is not included. The business plan has quite a ways to go, but it looks like I will be going with a 15-bbl brewhouse, but a 30-bbl brewhouse in not out of the question.
I look forward to this weekend’s test batch, a Northern English Brown Ale. Nutty, caramel goodness in a bottle.