Beshear signs bill that changes taxing on aging bourbon barrels

Beshear signs bill that changes taxing on aging bourbon barrels

Beshear signs bill that changes taxing on aging bourbon barrels

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by Katherine Faust

WHAS11.com

Posted on April 15, 2014 at 4:02 PM

Updated Tuesday, Apr 15 at 7:26 PM

LOUISVILLE, Ky. (WHAS11) - Governor Steve Beshear has signed a bill that will change the way aging bourbon barrels are taxed.

House Bill 445 gives distilleries relief from the ad valorem taxes levied every year on aging bourbon barrels. It stipulates that the barrels be taxed as property.

Next year, distilleries are set to gain an income tax credit on those barrels because of this change.  

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