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.
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.