In yesterday’s Herald Leader we had the Kentucky Distiller’s Association whining about paying taxes. The story talked about Rep. Linda Belcher and 18 other representatives trying to get tax breaks for the Distillers.
This commentary is from the Kentucky Distiller's Association and was written by John Rhea of Four Roses Distillery; Jeff Conder of Beam Global Spirits & Wine; Tom Krekeler of Wild Turkey Distillery; Chris Morris of Brown-Forman Corp.; Andrea Wilson of Diageo North America; and David Hobbs of Heaven Hill Distilleries……
Last week, members of the Kentucky Distillers' Association testified in support of House Bill 418 before the House Appropriations and Revenue Committee. This is an important measure that levels the playing field for Kentucky bourbon.
This bill, sponsored by Rep. Linda Belcher and co-sponsored by 18 other representatives in bipartisan support, allows distilleries to take a corporate income tax credit that would offset the amount of ad valorem taxes paid each year.
In today’s Herald Leader we have a story about Brown and Forman Corp posting a 30 percent profit increase in third quarter.
LOUISVILLE — Liquor company Brown-Forman posted a 30 percent increase in its third-quarter profit Tuesday on the strength of robust international sales and a sales spike for its Jack Daniel's and el Jimador brands.
LOUISVILLE — Liquor company Brown-Forman posted a 30 percent increase in its third-quarter profit Tuesday on the strength of robust international sales and a sales spike for its Jack Daniel's and el Jimador brands.
The Louisville-based company also raised its full-year earnings outlook and reported improving results in the United States, where the economic downturn has made consumers less inclined to venture out to drink at bars and restaurants.
I hope you noticed that one of the whiners about taxes was Chris Morris of Brown-Forman Corp., the same Brown-Forman with the 30 percent profit increase.
Do you really believe that Brown-Forman and the other guys are losing money selling Bourbon?
Maybe part of the reason Kentucky has chronic budget problems has something to do with state legislators like Linda Belcher giving tax breaks to big profitable corporations