19.9 C
Arrondissement de Cognac
Monday, June 17, 2024

Memory: Hennessy Cellars To Be Taxed as Industrial Buildings, Not Farm Structures

Date:

Share post:

Hennessy has lost its appeal to have its cellars taxed as farm structures rather than industrial buildings. A characterization of Hennessy’s cognac-located cellars as farm structures would have resulted in the cognac giant paying a lower rate of taxes on its cellars than a ruling that would have deemed them to be industrial buildings.

Because the production of cognac is big business and a major contributor to the local economy, the taxing authority, the Administrative Tribunal of Poitiers, the Administrative Court of the Poitou-Charentes region, probably had no difficulty ruling that Hennessy’s cellars should be deemed industrial buildings rather than farm structures. Since cognac cellars must be located in the Cognac delimited area and must be approved by the Bureau Interprofessionnel du Cognac (BNIC), Hennessy the world’s largest producer of cognac, has no real option other to maintain their cellars and to pay the higher tax rate.

Read More

hennessy

Subscribe to the Cognac.com Newsletter

HomeCognac BusinessMemory: Hennessy Cellars To Be Taxed as Industrial Buildings, Not Farm Structures

Related articles

Paul Giraud Cognac: A Legacy of Excellence in the Heart of La Grande Champagne

Cognac is a luxurious and sophisticated spirit, made from the finest grapes, and Paul Giraud Cognac is a...

Unlocking the Mystery of Kelt Cognac’s Ocean Maturation: Tour du Monde

Cognac is a sophisticated and complex spirit that has been produced in the Cognac region of France for...

Braastad Cognac

Braastad Cognac is a renowned producer of high-quality cognac that has been around for over 150 years. With...

Bache-Gabrielsen Cognac

The Cognac house of Bache-Gabrielsen was founded by Thomas Bache-Gabrielsen from Holmestrand Norway in 1905. Several generations later...