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- S.998
S.998: A bill to exempt the natural aging process in the determination of the production period for distilled spirits under section 263A of the Internal Revenue Code of 1986.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced March 27, 2007
- Latest Major Action March 27, 2007
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Amends the Internal Revenue Code to exclude from determination of the production period for distilled spirits any period allocated to the natural aging process for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| March 27, 2007 |
Introduced in the Senate by Jim Bunning (R-Ky.) |