US SB236 | 2017-2018 | 115th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on January 30 2017 - 25% progression, died in committee
Action: 2017-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2017 - 25% progression, died in committee
Action: 2017-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Craft Beverage Modernization and Tax Reform Act of 2017 This bill amends the Internal Revenue Code, with respect to the tax treatment of certain alcoholic beverages, to: exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period; reduce excise tax rates on beer and distilled spirits; modify the small wine producer tax credit to increase the amount of the credit, expand the producers that are covered, and specify an adjustment for hard cider; modify the alcohol content limitations that apply to certain wines for tax purposes; specify definitions for "mead" and "low alcohol by volume wine;" modify requirements for records, statements, and returns for certain breweries; and permit the transfer of beer between bonded facilities without payment of tax. The Department of the Treasury must amend applicable regulations with respect to the use of wholesome products suitable for human consumption in the production of fermented beverages.
Title
Craft Beverage Modernization and Tax Reform Act of 2017
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2017-01-30 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB747 (Same As) 2017-01-30 - Referred to the House Committee on Ways and Means.
Subjects
Administrative law and regulatory procedures
Alcoholic beverages
Business investment and capital
Business records
Competition and antitrust
Corporate finance and management
Department of the Treasury
Executive agency funding and structure
Food supply, safety, and labeling
Fruit and vegetables
Income tax deductions
Licensing and registrations
Sales and excise taxes
Tax administration and collection, taxpayers
Taxation
Alcoholic beverages
Business investment and capital
Business records
Competition and antitrust
Corporate finance and management
Department of the Treasury
Executive agency funding and structure
Food supply, safety, and labeling
Fruit and vegetables
Income tax deductions
Licensing and registrations
Sales and excise taxes
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/senate-bill/236/all-info |
| Text | https://www.congress.gov/115/bills/s236/BILLS-115s236is.pdf |
