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S. 1179 (114th): AGED Spirits Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 4, 2015.

Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act

Amends the Internal Revenue Code to exclude 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.