A reminder to those that build and sell rods.....

noles · Post by **noles** » Mon Mar 24, 2008 9:32 am

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.

yohan1973 · Post by **yohan1973** » Mon Mar 24, 2008 9:44 am

How about trading rods for services?
Monkey said that if I build him a rod he'd let me peek in his neigbor's window while she took a shower! lol
Just kidding!

Anyway, I am planning to get a business licenses some time this year after I figure this all out.

skinnywater · Post by **skinnywater** » Mon Mar 24, 2008 11:22 am

Nice and confusing. Sounds like alot of trouble for a small time builder to have to go through.

BTW, Noles, check yer PMs.

Gramps · Post by **Gramps** » Mon Mar 24, 2008 12:01 pm

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!

noles · Post by **noles** » Mon Mar 24, 2008 12:48 pm

Skinnywater- I got your PM, just need some thinking time to compose a response.