March 21st, 2012, 05:27 PM
arrow shaft excise tax.
I was given some information by somebody going on a diatribe about $1.54 excise tax on all arrow shafts, explaining why his arrows cost as much as they do. I have no problem with what he sells hand made arrows for, but it sounded excessive to me, so i checked online. IRS 2012 excise tax form says. $0.46 is the per shaft rate. I also found something that said in 2008, the president (i'm guessing bush based on the date), as part of some economic something or other, put in an exemption from that date forwardfor wooden arrows under 30# spine 5/16 or less in diameter. It was claimed that this exemption was repealed by the current president, shartly after the $1.54 false information, and that money from the exemption doesn't go to the original intent of the excise tax. I haven't seen anything to verify this, though to be fair, i haven't seen anything to refute it either.
I was thinking of simply calling the irs to be sure, but thought somebody here might have some knowledge beyond, "some guys said."
March 21st, 2012, 09:39 PM
The exemption for kids' arrows is still listed in the instructions for the 2012 excise tax form 720. It was introduced in the US senate as an add-on to the 2008 stimulus bill by the senators from Oregon, not the president.
"It was claimed that this exemption was repealed by the current president..."
March 22nd, 2012, 04:21 PM
Thanks for the info! Sorry, it read signed into law or something by the president. Good
April 17th, 2012, 03:39 PM
Haven't heard much on this issue in a long time.