GYERO
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Speaking of completely sane gals that are certainly not on an incredibly wild amount of illegal drugs- did you see my gal Holly Sonders is starting a female sports empire where they all just compete with no clothes on?
Its called Xposed Sports, obviously and Holly is the commissioner.
Taxes should be very low, fair and even across the board, and the government should generally stay TF out of the way and let people and businesses conduct themselves as they wish so long as it doesn't hurt anyone else. Because that's the right thing to do.
Since 2014 whatever is paid on that tax is then given as a credit against payroll or income tax at the state level. So basically the state was already taking a hit to keep money at the smaller local levels.
I’m not sure what year it happened but at some point the calculations changed because so much Ky Bourbon is sold elsewhere so it changed how the barrel tax calculated in. This happened before I started my brand in 2019 though and hasn’t affected me yet.
The flip side to this is also while you bring up the idea that “new distilleries pop up every month” you don’t recognize that these distilleries are subject to a barrel tax before it can get to revenues(in theory).
The tax is supposed to be on any barrels aging in Ky on Jan 1 of each year.
With that being the rule, brands that source aren’t subject to tax because they could have bought 500 barrels and sold off 450 barrels so basically what they owe isn’t representative to what they should.
- Also, Unless you audit every year which takes one hell of a task force, you can’t ever really know 1- the actual quantity of barrels, or 2- the actual value because the tax is .05 per $100 in value.
Who determines value? I just bought some 8YO Ky Bourbon at $6500 a barrel so is the tax based on those values? Or cost?
Another issue for those paying the tax is production is about to triple with all the 100’s of millions of dollars going into the increase of production from this year.
- The bourbon industry is still subject to 12 other taxes throughout the process before you open a bottle and take a sip.
- In closing, while it all sounds awful today, and yes the state will subsidize the offset to local communities it is just affecting 29 communities currently, and there is a better way to tax this instead of a tax that was designed 100 years ago to still apply the same way in todays world compared to what it was 100 years ago.
- Lastly to pretend this industry can’t disappear when just 20 years ago it almost did just that before the Japanese and Indian communities of Asia began consuming, then you are not aware of how things change and fast.
I’m not sure what year it happened but at some point the calculations changed because so much Ky Bourbon is sold elsewhere so it changed how the barrel tax calculated in. This happened before I started my brand in 2019 though and hasn’t affected me yet.
The flip side to this is also while you bring up the idea that “new distilleries pop up every month” you don’t recognize that these distilleries are subject to a barrel tax before it can get to revenues(in theory).
The tax is supposed to be on any barrels aging in Ky on Jan 1 of each year.
With that being the rule, brands that source aren’t subject to tax because they could have bought 500 barrels and sold off 450 barrels so basically what they owe isn’t representative to what they should.
- Also, Unless you audit every year which takes one hell of a task force, you can’t ever really know 1- the actual quantity of barrels, or 2- the actual value because the tax is .05 per $100 in value.
Who determines value? I just bought some 8YO Ky Bourbon at $6500 a barrel so is the tax based on those values? Or cost?
Another issue for those paying the tax is production is about to triple with all the 100’s of millions of dollars going into the increase of production from this year.
- The bourbon industry is still subject to 12 other taxes throughout the process before you open a bottle and take a sip.
- In closing, while it all sounds awful today, and yes the state will subsidize the offset to local communities it is just affecting 29 communities currently, and there is a better way to tax this instead of a tax that was designed 100 years ago to still apply the same way in todays world compared to what it was 100 years ago.
- Lastly to pretend this industry can’t disappear when just 20 years ago it almost did just that before the Japanese and Indian communities of Asia began consuming, then you are not aware of how things change and fast.
I thought your mortgage company took care of all your taxes when you sent in your monthly payment?
Anytime beautiful Wofoco is mentioned B-Rax comes running to bitch and moan, like an effing bat signal. Weird.
You'd think BatDad would have remembered WCHS won state baseball title in 2012. But blah blah blah Jessamine County. WDGAF.
K thanks.
You'd think BatDad would have remembered WCHS won state baseball title in 2012. But blah blah blah Jessamine County. WDGAF.
K thanks.
Good stuff.
India is the largest producer/consumer of whiskey and growing. China, according to Fred Minnick, is going to change the game in a few years by entering the fray… that said, these global companies controlling these KY distilleries can and must adjust to compete. It’s naïve to think they won’t.
Nobody was drinking whiskey in the early 80s ( vodka 🤢 dominated and light whiskey was introduced), so although we think these 100 KY year old distilleries have been killing it forever… they really haven’t.
So how far off is the KSR caller that stated it is $4 per barrel a year? If that number is true or even close, the bourbon industry and local governments would both be better off if the state lowered its $445 charge to $400-425 rather than eliminating the $4 a year(which equates to 2-2.5 cents per bottle for every year its aged). Either way, if the state does step up and cover the local losses I'm fine with it.
Thanks for keeping me entertained GYERO. Back to lurking.
Thanks for keeping me entertained GYERO. Back to lurking.
I lived there from 1990-1999 and I was told the population was around 118k. Not sure if that was some sort of combined area or not, but you are correct and I can’t find that anywhere so we’ll just assume it dropped only 18% or so. My father was a chemist for union carbide which became Dow which then moved to Michigan and the tax rate was a big talking point. Nevertheless the basic point, even though I had shitty numbers from this one example, I think remains.
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(West Jessamine won a baseball title more recently)
WELL IM SURE SONNYS BBQ IS NICE OFF THE BYPASS BUT THEY RECRUITED AND THE AD'S KID THREW 96 MPH GAS BUT HE GREW UP IN GARRARD COUNTY SO TAKE IT OR LEAVE IT ENJOY
I’m not exactly sure the point being made here other than the tax is based on value and raised like 33M in tax in ‘21.
In ‘21 there was 10 million barrels of bourbon.
So maybe they were saying that averages to $4 a barrel. But it’s actually .05 per $100 in value.
My point in that long winded post is if I pay $6500 for a barrel as a non producing brand(NPB) is my tax based on that “value”? If so then Beam who I bought it from pays a .05 on their $700 barrel cost.
That’s a drastic difference to govern.
There is a better calculation on all this that the industry is willing to pay, but currently the big distilleries are focused on pushing brands like mine out of the game so believe they aren’t opposed to this tax in total just how it’s applied currently.
Lilly is great, and has amazing Big Naturals, but Shannon Spake is a woman.
This one ain't even close.
This one ain't even close.
I, for one, would like to know which GYERO wives BBdK thinks are hotter than Lilly.
Old Elk, Senator(Your state senator Thayer knows all about MGP), Smoke Wagon, Sygamore, OKI, Old Carter, Boone County, NULU, Four Gate, Down Home……….
I could list at least 100 more if I sat long enough to give it real thought. It’s truly insane how many brands they are responsible for up starting.
Man, feel for that kid. Wow.
…and god job on the Crip tip DJ JEFFRIES 🤣😂🤡
…and god job on the Crip tip DJ JEFFRIES 🤣😂🤡
You clearly know more on details than I and I defer to your knowledge even if I wouldn’t agree on specific points
You say there is a better way to tax this and distilleries aren’t opposed to a tax and how it is applied. I have no reason not to take you at face value…but if that were the case, why didn’t the propose an alternative tax as part of this and do it to coincide with the repeal of this one?
Forgive me if I don’t believe that after the repeal of this, they won’t fight like hell to oppose “new taxes on Kentucky industry.” I think it would be naive to assume otherwise
If you want to know how big a fat, dog-strollering loser John Calipari has become --> please see the last page of GYERO.
On the evening the NCAA tournament started, the host of the BBN's biggest radio show is picking a fight about bourbon taxes that effect about ten of the Commonwealth's counties with a group of possibly the most diehard BBN fans in creation.
Go Cats.
On the evening the NCAA tournament started, the host of the BBN's biggest radio show is picking a fight about bourbon taxes that effect about ten of the Commonwealth's counties with a group of possibly the most diehard BBN fans in creation.
Go Cats.
This notion that the bourbon industry is flourishing so it needs to pay more taxes is a little misguided. With their growth they are paying more taxes just like any other business that grows, has higher profits and employs more people.
They are paying more property tax due to growth, more payroll taxes, more net income tax. They are employing more people who are buying homes in the area, spending money in the community, paying local taxes etc. They haven't objected to any of that. They just object to being the only industry in American history who pays taxes on inventory for decades before they sell it.
They are paying more property tax due to growth, more payroll taxes, more net income tax. They are employing more people who are buying homes in the area, spending money in the community, paying local taxes etc. They haven't objected to any of that. They just object to being the only industry in American history who pays taxes on inventory for decades before they sell it.
There should be no taxes at all. The private sector finds a way to take care of all goods and services.
Can you imagine the utopia of a country with no taxes? Dream about it all the time. I’m pretty sure we are stuck in the short run but zero tax at all is going to come in the long run. It has to.
Can you imagine the utopia of a country with no taxes? Dream about it all the time. I’m pretty sure we are stuck in the short run but zero tax at all is going to come in the long run. It has to.
This is the part of the issue that doesn’t get talked about because it can’t be boiled down to an easy sound bite and the real crux of the matter. The 2014 change allowed distilleries to take a non-refundable credit for barrel tax paid against state income tax owed. When Ky went single sales factor for corp income tax a few years ago, it generally cut the income tax due on inventory heavy businesses which meant a lot of distilleries no longer pay enough in income tax to claim the full barrel tax credit.
So multiple things are true…
- yes, the state was already mostly eating the cost of the barrel tax until it cut the income tax due for the distilleries and…
- The distilleries are arguing that their corp income tax due is too low to fully allow for the barrel tax credit.
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Fireball is fantastic in very specific circumstances.
Agree to disagree. Something like 15 grams of sugar in one shot. Couple of those and you’re begging for a hangover. No one has ever said man I’m glad we drank all that fireball last night.
You’ll look back just like jager in college and say why were we drinking that.
Most of which are cold Saturday nights at CWS.
Who gives a shit about sugar in that situation.
Next you're gonna tell us Red Bull and Vodka is bad for us.
Leave us alone on Fireball. It reminds us of days gone by, lost youth, etc. Can't drink the way I use to, but a quick hit or two of fireball brings back the memories that I can still do this without the punishment of 7-8 shots of tequila to feel bad about. And yes, other than that, to keep us warm outside.
Leave us alone on Fireball. It reminds us of days gone by, lost youth, etc. Can't drink the way I use to, but a quick hit or two of fireball brings back the memories that I can still do this without the punishment of 7-8 shots of tequila to feel bad about. And yes, other than that, to keep us warm outside.
Good tequila>>>>>Fireball all day.
And you didn’t start shooting fireball til you were 30, so don’t act like it takes you back to college days.
And it’s vodka and Red Bull. Liquor first, mixer second. Jeez, I’m just gonna have to learn you all I guess.
And you didn’t start shooting fireball til you were 30, so don’t act like it takes you back to college days.
And it’s vodka and Red Bull. Liquor first, mixer second. Jeez, I’m just gonna have to learn you all I guess.
not gonna stand for any, even minimal lack of respect for Shannon Spake
HERE SHE COMES NOW ROLLING DOWN THE STAIIIRRRS
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