Distillers Toast New Plan to End Kentucky’s Bourbon Barrel Tax

The week in state tax news: Kentucky is poised to kill off the state’s unique bourbon barrel tax, but school districts and localities aren’t happy with the plan introduced in the Legislature this week. Some lawmakers in California are pushing the governor to regulate cryptocurrency businesses, and Indiana lawmakers sent a bill to the governor with a workaround to the $10,000 state and local tax deduction limit.

Former US Supreme Court Justice Hugo Black once quipped, “I was brought up to believe that Scotch whiskey would need a tax preference to survive in competition with Kentucky bourbon.”