barrel tax

Kentucky Sets New Record for Aging Whiskey Barrels. But It’s Not All Good in The Bourbon State.

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kentucky

I can vividly remember back in 2010, Kentucky Governor Steve Beshear touting there were over 4,000,000 barrels of aging whiskey in Kentucky, essentially one for every person in the state. Now, more than a decade later and under Governor Andy Beshear (former Gov’s son), that number was reported by the KY Distillers Association (KDA) to […]

The post Kentucky Sets New Record for Aging Whiskey Barrels. But It’s Not All Good in The Bourbon State. first appeared on The Bourbon Review.

“Bourbon Capital of the World” Hits the Brakes on New Whiskey-Related Projects (Episode 1003: May 7, 2023)

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Bourbon’s construction boom in Central Kentucky is raising concerns in Nelson County, home to Bardstown, the “Bourbon Capital of the World.” County officials have reached a compromise with whiskey makers for a 90-day moratorium on planning approval for new warehouses in agricultural zones. Nelson County Judge Executive Tim Hutchins wants a review of current ordinances allowing virtually unfettered development of warehouses without public input, while allowing projects in areas zoned for industrial use to move forward. We’ll talk with Judge Hutchins on this week’s WhiskyCast In-Depth about the moratorium and the impact of losing millions of dollars in barrel tax Read More »

Thanks a Thousand! (Episode 1000: April 16, 2023)

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We’re celebrating a major milestone this week with the 1000th episode of WhiskyCast! To mark the occasion, Mark went back through the archives to pick some memorable moments and interviews from the past 18 years for this special episode. You’ll hear from legends like the late Parker Beam and Michael Jackson, along with Jimmy Russell, Jim McEwan, Maureen Robinson, Fawn Weaver, and Richard Paterson…just to name a few. This episode is a lot longer than usual, and there’s plenty more that we could have included. In the news, Scotch Whisky Association leaders are hoping to persuade Parliament to reject a Read More »

Barrel Tax Bill Under Consideration in Kentucky Legislature

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February 28, 2023 – Kentucky state lawmakers have just 11 legislative days left to consider a bill that would phase out the state’s “barrel tax” on barrels of aging Bourbon. House Bill 5 would start phasing out the tax in 2026 and end it completely in 2039, and is pending in the Kentucky House Appropriations and Revenue Committee. Kentucky is the only state that taxes inventories of maturing spirits, and the tax raised approximately $40 million for local governments in 2021. Distillers have the ability to take a credit for the barrel taxes they pay against their corporate state income Read More »

Kentucky Barrel Inventory Reaches New High

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September 27, 2022 – Kentucky distillers set a new production record in 2021, according to state revenue department data released today by the Kentucky Distillers Association. Distillers filled more than 2 million barrels for the fourth consecutive year, and had a total of nearly 12 million barrels of Bourbon and other spirits aging in the state’s rickhouses as of January 1, when they’re required to file an inventory report with the state. The inventory generated a total of $40 million in “barrel taxes,” the property tax leveled on every barrel of maturing spirits in a distiller’s inventory. That money goes Read More »

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