S.1986

Extends the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands.

This bill amends the Internal Revenue Code to extend the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands. The extension will now apply until January 1, 2032, instead of January 1, 2022. The changes will apply to distilled spirits brought into the United States after December 31, 2021.