I just wanted everyone who builds and sells rods to be aware that you are liable to the FEDERAL Sportsfishing Excise Tax. What the heck is that? Here's a good write up on the Sportfishing Excise Tax:
http://www.rodbuilding.org/library/sportfishingtax.html
Can you get in trouble for this? Yes, if Uncle Sam finds out about it. In addition to the Sportsfishing Excise Tax, you are liable for State and Local taxes as well.
If you're giving the rod away for free then there is no tax liability.
A reminder to those that build and sell rods.....
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- Posts: 1006
- Joined: Fri Aug 10, 2007 10:47 am
- Location: Lakeland, Poke County FL
It really isn't much trouble at all. The IRS website & Hills. County website have lots of good information & helpful people.
Thanks for the heads up Noles!
Thanks for the heads up Noles!
-Scott
And across from the bar there's a pile of beer cans
Been there twenty-seven years
Imagine all the heart aches and tears
In twenty-seven years of beer
And across from the bar there's a pile of beer cans
Been there twenty-seven years
Imagine all the heart aches and tears
In twenty-seven years of beer