How might Trump's second term affect the convenience services industry?

The votes have been tallied, a winner declared, and the wheels of a peaceful transition of power have already begun to turn. What can we expect during President Trump’s second term?

During his campaign, president-elect Trump outlined several goals for his administration that could impact small businesses, including those in the vending, micro markets, coffee service, and unattended retail sectors.

• Lower the corporate tax rate from 21% to 15%.
• Extend the 2017 Tax Cuts and Jobs Act (TCJA) provisions, including 100% bonus depreciation for machinery and equipment or research and development.
• Extending the TCJA provisions also could include the Qualified Business Income Deduction for pass-through entities like LLCs. Because many convenience services businesses are pass-through entities, this allows those owners to deduct up to 20% of their business income.
• Tariffs on foreign goods, which could include coffee. The United States imported $8.2 billion worth of coffee in 2023.

The convenience services industry may also receive support from the Trump administration on other fronts. These include:

• Repealing the Corporate Transparency Act, which increased the regulatory burden on convenience services operators by requiring small businesses to provide information to the Treasury Department.
• Easing the estate tax burden, which would allow family-owned businesses to pass assets without increasing tax obligations.

NAMA advocates for the convenience services industry on government affairs. During its Fly-In in July, NAMA educated attendees on current and pending legislation changes.

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