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To exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.

USA115th CongressHR-1126| House 
| Updated: 2/16/2017
Andy Barr

Andy Barr

Republican Representative

Kentucky

Cosponsors (5)
Brett Guthrie (Republican)John A. Yarmuth (Democratic)Thomas Massie (Republican)James Comer (Republican)Harold Rogers (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Aged Distilled Spirits Competitiveness Act This bill amends the Internal Revenue Code to exclude the aging period from the production period for distilled spirits that are fit to be used as a beverage, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.
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Timeline
Feb 16, 2017

Latest Companion Bill Action

S 115-429
Introduced in Senate
Feb 16, 2017
Introduced in House
Feb 16, 2017
Referred to the House Committee on Ways and Means.
  • February 16, 2017

    Latest Companion Bill Action

    S 115-429
    Introduced in Senate


  • February 16, 2017
    Introduced in House


  • February 16, 2017
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • HR 115-747: To amend the Internal Revenue Code of 1986 to reform taxation of alcoholic beverages.
  • S 115-429: A bill to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.
Alcoholic beveragesBusiness investment and capitalIncome tax deductionsInterest, dividends, interest rates

To exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.

USA115th CongressHR-1126| House 
| Updated: 2/16/2017
Aged Distilled Spirits Competitiveness Act This bill amends the Internal Revenue Code to exclude the aging period from the production period for distilled spirits that are fit to be used as a beverage, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 16, 2017

Latest Companion Bill Action

S 115-429
Introduced in Senate
Feb 16, 2017
Introduced in House
Feb 16, 2017
Referred to the House Committee on Ways and Means.
  • February 16, 2017

    Latest Companion Bill Action

    S 115-429
    Introduced in Senate


  • February 16, 2017
    Introduced in House


  • February 16, 2017
    Referred to the House Committee on Ways and Means.
Andy Barr

Andy Barr

Republican Representative

Kentucky

Cosponsors (5)
Brett Guthrie (Republican)John A. Yarmuth (Democratic)Thomas Massie (Republican)James Comer (Republican)Harold Rogers (Republican)

Ways and Means Committee

Taxation

Related Bills

  • HR 115-747: To amend the Internal Revenue Code of 1986 to reform taxation of alcoholic beverages.
  • S 115-429: A bill to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Alcoholic beveragesBusiness investment and capitalIncome tax deductionsInterest, dividends, interest rates