Distillery Excise Tax Reform Act of 2014

Distillery Excise Tax Reform Act of 2014 - Amends the Internal Revenue Code to reduce the rate of the excise tax on distilled spirits to $2.70 per proof gallon (currently, $13.50 per proof gallon) on the first 100,000 gallons produced by a distilled spirits producer during the calendar year.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2169 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2169

 To amend the Internal Revenue Code of 1986 to reduce the rate of tax 
              regarding the taxation of distilled spirits.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 27, 2014

Mrs. Gillibrand introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to reduce the rate of tax 
              regarding the taxation of distilled spirits.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Distillery Excise Tax Reform Act of 
2014''.

SEC. 2. REDUCED RATE OF TAX ON CERTAIN DISTILLED SPIRITS.

    (a) In General.--Section 5001 of the Internal Revenue Code of 1986 
(relating to imposition, rate, and attachment of tax on distilled 
spirits) is amended by redesignating subsection (c) as subsection (d) 
and by inserting after subsection (b) the following new subsection:
    ``(c) Reduced Rate.--In the case of a distilled spirits producer, 
the otherwise applicable tax rate under subsection (a)(1) on the first 
100,000 of proof gallons of distilled spirits produced by such producer 
during the calendar year in the United States shall be $2.70 per proof 
gallon.''.
    (b) Conforming Amendment.--Section 7652(f)(2) of the Internal 
Revenue Code of 1986 is amended by striking ``section 5001(a)'' and 
inserting ``sections 5001(a)(1) and 5001(c)(1)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to distilled spirits produced in calendar years beginning after 
December 31, 2014.
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