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

USA115th CongressS-429| Senate 
| Updated: 2/16/2017
Mitch McConnell

Mitch McConnell

Republican Senator

Kentucky

Cosponsors (1)
Rand Paul (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits 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

HR 115-1126
Introduced in House
Feb 16, 2017
Introduced in Senate
Feb 16, 2017
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307)
  • February 16, 2017

    Latest Companion Bill Action

    HR 115-1126
    Introduced in House


  • February 16, 2017
    Introduced in Senate


  • February 16, 2017
    Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307)

Taxation

Related Bills

  • HR 115-1126: To exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.
  • HR 115-747: To amend the Internal Revenue Code of 1986 to reform taxation of alcoholic beverages.
Alcoholic beveragesBusiness investment and capitalIncome tax deductionsInterest, dividends, interest rates

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

USA115th CongressS-429| Senate 
| Updated: 2/16/2017
Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits 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

HR 115-1126
Introduced in House
Feb 16, 2017
Introduced in Senate
Feb 16, 2017
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307)
  • February 16, 2017

    Latest Companion Bill Action

    HR 115-1126
    Introduced in House


  • February 16, 2017
    Introduced in Senate


  • February 16, 2017
    Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1307)
Mitch McConnell

Mitch McConnell

Republican Senator

Kentucky

Cosponsors (1)
Rand Paul (Republican)

Finance Committee

Taxation

Related Bills

  • HR 115-1126: To exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.
  • HR 115-747: To amend the Internal Revenue Code of 1986 to reform taxation of alcoholic beverages.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Alcoholic beveragesBusiness investment and capitalIncome tax deductionsInterest, dividends, interest rates