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  1. #1
    Connoisseur
    Join Date
    Jan 2014
    Location
    DFW, TX
    Posts
    922

    Tax code change for distilleries?...

    McConnell and Sen. Rand Paul on Monday introduced a bill that would allow American bourbon and whiskey makers to deduct interest associated with production in the year it's paid.

    http://www.cbsnews.com/news/senators...ourbon-makers/

    I have absolutely no idea how big of an impact this will have, what kinds of dollars we're talking about here, if it's even significant, etc.

  2. #2
    Guru
    Join Date
    Jun 2013
    Location
    NWGA
    Posts
    2,587

    Re: Tax code change for distilleries?...

    I have no idea of the figure but I guarantee that it is huge or two Senators from distillery states wouldn't be involved.

  3. #3
    Enthusiast
    Join Date
    Mar 2015
    Location
    Memphis, Tennessee
    Posts
    331

    Re: Tax code change for distilleries?...

    What would happen if another Curtsinger-type stole the slated 23-year-old whiskey in its 22nd year of aging (or the barrel was damaged so severely that the contents all leaked out)? I guess the distillery would have to pay back the taxes, probably reimbursed through insurance.

    That makes me wonder how much some of those large producers are paying to insure their massive inventories. Warehouse fire, theft, leakage, etc. coverage for every stored barrel has got to be expensive. Getting the proposed tax code alteration would certainly defray some of their operating costs and make the hassle of long-term storage more bearable.
    Last edited by ToEOrNotToE; 05-06-2015 at 17:34.
    SCOTT: I found this on Ganymede.
    TOMAR: What is it?
    SCOTT: Well, it's um... It's
    green.

 

 

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