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Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act This bill amends the Internal Revenue Code to exclude, after 2019, the aging period from the production period for distilled spirits, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period. This allows producers of distilled spirits to deduct interest expense associated with production in the year it is paid.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (1)
2020 · fourth_quarter · Taxation/Internal Revenue Code
Federal excise taxes H.R. 410 - Territorial Economic Growth and Recovery Act of 2019 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the amount of distilled spirits taxes cover over to the Virgin Islands and Puerto Rico S. 2251/H.R. 4284 - Advancing Growth in the Economy through Distilled Spirits Act/AGED Spirits Act - to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs S. 362/H.R. 1175 - Craft Beverage Modernization and Tax Reform Act of 2019 - to reduce the rate of tax on distilled spirits, beer and wine H.R. 409 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands Domestic and international tax reform H.R. 748 - Coronavirus Aid, Relief, and Economic Security Act - to remove the federal excise tax on alcohol used in the production of hand sanitizer and funding for businesses affected by the COVID-19 crisis H.R.133 - Consolidated Appropriations Act, 2021 - to reduce the federal excise tax rate on distilled spirits and funding for businesses affected by the COVID-19 crisis
Read twice and referred to the Committee on Finance. (text: CR S5064)
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $910,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Office of Management & Budget (OMB), SENATE, Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2020 · third_quarter · Taxation/Internal Revenue Code
Federal excise taxes H.R. 410 - Territorial Economic Growth and Recovery Act of 2019 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the amount of distilled spirits taxes cover over to the Virgin Islands and Puerto Rico S. 2251/H.R. 4284 - Advancing Growth in the Economy through Distilled Spirits Act/AGED Spirits Act - to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs S. 362/H.R. 1175 - Craft Beverage Modernization and Tax Reform Act of 2019 - to reduce the rate of tax on distilled spirits, beer and wine H.R. 409 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands Domestic and international tax reform H.R. 748 - Coronavirus Aid, Relief, and Economic Security Act - to remove the federal excise tax on alcohol used in the production of hand sanitizer and funding for businesses affected by the COVID-19 crisis
Client expense: $1,000,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Office of Management & Budget (OMB), SENATE, Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2020 · second_quarter · Taxation/Internal Revenue Code
Federal excise taxes H.R. 410 - Territorial Economic Growth and Recovery Act of 2019 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the amount of distilled spirits taxes cover over to the Virgin Islands and Puerto Rico S. 2251/H.R. 4284 - Advancing Growth in the Economy through Distilled Spirits Act/AGED Spirits Act - to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs S. 362/H.R. 1175 - Craft Beverage Modernization and Tax Reform Act of 2019 - to reduce the rate of tax on distilled spirits, beer and wine H.R. 409 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands Domestic and international tax reform H.R. 748 - Coronavirus Aid, Relief, and Economic Security Act - to remove the federal excise tax on alcohol used in the production of hand sanitizer and funding for businesses affected by the COVID-19 crisis
Client expense: $1,000,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Office of Management & Budget (OMB), SENATE, Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2020 · first_quarter · Taxation/Internal Revenue Code
Federal excise taxes H.R. 410 - Territorial Economic Growth and Recovery Act of 2019 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the amount of distilled spirits taxes cover over to the Virgin Islands and Puerto Rico S. 2251/H.R. 4284 - Advancing Growth in the Economy through Distilled Spirits Act/AGED Spirits Act - to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs H.R. 1865 - Further Consolidated Appropriations Act, 2020 - to reduce the rate of tax on distilled spirits, beer and wine S. 362/H.R. 1175 - Craft Beverage Modernization and Tax Reform Act of 2019 - to reduce the rate of tax on distilled spirits, beer and wine H.R. 1 - Tax Cuts and Jobs Act - to reduce the rate of tax on distilled spirits, beer and wine and to facilitate claims owed under the law H.R. 409 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands Domestic and international tax reform H.R. 748 - Coronavirus Aid, Relief, and Economic Security Act - to remove the federal excise tax on alcohol used in the production of hand sanitizer and funding for businesses affected by the COVID-19 crisis
Client expense: $1,290,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Office of Management & Budget (OMB), SENATE, Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2019 · fourth_quarter · Taxation/Internal Revenue Code
Federal excise taxes H.R. 410 - Territorial Economic Growth and Recovery Act of 2019 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the amount of distilled spirits taxes cover over to the Virgin Islands and Puerto Rico S. 2251/H.R. 4284 - Advancing Growth in the Economy through Distilled Spirits Act/AGED Spirits Act - to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs H.R. 1865 - Further Consolidated Appropriations Act, 2020 - to reduce the rate of tax on distilled spirits, beer and wine S. 362/H.R. 1175 - Craft Beverage Modernization and Tax Reform Act of 2019 - to reduce the rate of tax on distilled spirits, beer and wine H.R. 1 - Tax Cuts and Jobs Act - to reduce the rate of tax on distilled spirits, beer and wine H.R. 409 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands Domestic and international tax reform
Client expense: $950,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Office of Management & Budget (OMB), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2019 · third_quarter · Taxation/Internal Revenue Code
Federal excise taxes H.R. 410 - Territorial Economic Growth and Recovery Act of 2019 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the amount of distilled spirits taxes cover over to the Virgin Islands and Puerto Rico S. 2251/H.R. 4284 - Advancing Growth in the Economy through Distilled Spirits Act/AGED Spirits Act - to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs S. 362/H.R. 1175 - Craft Beverage Modernization and Tax Reform Act of 2019 - to reduce the rate of tax on distilled spirits, beer and wine H.R. 1 - Tax Cuts and Jobs Act - to reduce the rate of tax on distilled spirits, beer and wine H.R. 409 - to amend the Internal Revenue Code of 1986 to repeal the limitation on the cover over of distilled spirits taxes to Puerto Rico and Virgin Islands Domestic and international tax reform
Client expense: $1,060,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Defense, Dept of (DOD), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Office of Management & Budget (OMB), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office