More taxes for Bow Hunters

[keen one]

http://www.irs.gov/pub/irs-pdf/p510.pdf

Check out chapter 5. Bows, Arrows, and accessories...I'm no accountant but an 11% tax on manufucturer and 11% at point of sale looks expensive to me.

[TomE]

Page 32 FYI

[Roundballer]

There is nothing new about this tax. There is a Federal Excise tax on all "Sporting Goods" including firearms and ammo. I think that most of that tax gets captured for use in promoting lands and ranges. That is where Reid? got the money to push for that multimillion dollar range built in AZ.

The "new" taxes are listed on page two, mostly expiration of the exemptions on some fuels, and the addition of the "medical devices" tax.

[langenc]

I dont know if the OP misquoted but the tax is, as I know it, 11% once..

Pittman-Robertson and sportspeople asked for it to be on goods. Was not always on archery equip but was added many yrs ago.

[keen one]

Thanks for the clarification. The IRS booklet had me confused since no reference to Pittman-Robertson was made.

Intersting reading though tires are taxed at about 9 cents. What grand conceptor came up with that value?

Thanks guys.

0ut/.

[Roundballer]

The Federal excise tax on tires goes back at least to WWII. It started out as a tax to pay for the war. Now, it is just kept in there "for the roads", and is just lumped in with the rest of general funds they collect.
There used to be a tax on wallets, coin purses and handbags, that was also to help pay for WWII. They finally dropped that one about 40 years ago.

[langenc]

Perfume and some cosmetics were taxed when I first went to work in a pharmacy..

Talking about taxes-I was recently told that the Gov finally fixed the car purchase w/ a trade in tax situation.

I was told that now you are taxed(sales tax-6%) on the purchase less the trade in.

30K car w/ 10 K trade in now taxed at 20K-previously the whole 30K. Is that correct??