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USC Title 26 enacted through 2008

§ 4161. Imposition of tax

 
(a)
Sport fishing equipment
 
(1)
Imposition of tax
 
(A)
In general
 
There is hereby imposed on the sale of any article of sport fishing equipment by the manufacturer, producer, or importer a tax equal to 10 percent of the price for which so sold.
 
(B)
Limitation on tax imposed on fishing rods and poles
 
The tax imposed by subparagraph (A) on any fishing rod or pole shall not exceed $10.
 
(2)
3 percent rate of tax for electric outboard motors
 
In the case of an electric outboard motor, paragraph (1) shall be applied by substituting "3 percent" for "10 percent".
 
(3)
3 percent rate of tax for tackle boxes
 
In the case of fishing tackle boxes, paragraph (1) shall be applied by substituting "3 percent" for "10 percent".
 
(4)
Parts or accessories sold in connection with taxable sale
 
In the case of any sale by the manufacturer, producer, or importer of any article of sport fishing equipment, such article shall be treated as including any parts or accessories of such article sold on or in connection therewith or with the sale thereof.
 
(b)
Bows and arrows, etc.
 
(1)
Bows
 
(A)
In general
 
There is hereby imposed on the sale by the manufacturer, producer, or importer of any bow which has a peak draw weight of 30 pounds or more, a tax equal to 11 percent of the price for which so sold.
 
(B)
Archery equipment
 
There is hereby imposed on the sale by the manufacturer, producer, or importer -
 
(i)
of any part or accessory suitable for inclusion in or attachment to a bow described in subparagraph (A), and
 
(ii)
of any quiver, broadhead, or point suitable for use with an arrow described in paragraph (2),
 
a tax equal to 11 percent of the price for which so sold.
 
(2)
Arrows
 
(A)
In general
 
There is hereby imposed on the first sale by the manufacturer, producer, or importer of any shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly -
 
(i)
measures 18 inches overall or more in length, or
 
(ii)
measures less than 18 inches overall in length but is suitable for use with a bow described in paragraph (1)(A),
 
a tax equal to 39 cents per shaft.
 
(B)
Exemption for certain wooden arrow shafts
 
Subparagraph (A) shall not apply to any shaft consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly -
 
(i)
measures 5/16 of an inch or less in diameter, and
 
(ii)
is not suitable for use with a bow described in paragraph (1)(A).
 
(C)
Adjustment for inflation
 
(i)
In general
 
In the case of any calendar year beginning after 2005, the 39-cent amount specified in subparagraph (A) shall be increased by an amount equal to the product of -
 
(I)
such amount, multiplied by
 
(II)
the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting "2004" for "1992" in subparagraph (B) thereof.
 
(ii)
Rounding
 
If any increase determined under clause (i) is not a multiple of 1 cent, such increase shall be rounded to the nearest multiple of 1 cent.
 
(3)
Coordination with subsection (a)
 
No tax shall be imposed under this subsection with respect to any article taxable under subsection (a).








Tax Code (Internal Revenue Code) Section Index


U.S. GAAP by Codification Topic
 
105 GAAP Hierarchy
105 GAAP History

205 Presentation of Financial Statements
205-20 Discontinued Operations
210 Balance Sheet
210-20 Offsetting
220 Comprehensive Income
225 Income Statement
225-20 Extraordinary and Unusual Items
230 Statement of Cash Flows
250 Accounting Changes and Error Corrections
260 Earnings per Share
270 Interim Reporting

310 Impairment of a Loan
320 Investment Securities
320 Other-Than-Temporary Impairments, FSP FAS 115-2
320-10-05 Overview of Investments in Other Entities
320-10-35 Reclassification of Investments in Securities
323-10 Equity Method Investments
323-30 Investments in Partnerships and Joint Ventures
325-20 Cost Method Investments
330 Inventory

340-20 Capitalized Advertising Costs
350-20 Goodwill
350-30 Intangibles Other than Goodwill
350-40 Internal-Use Software
350-50 Website Development Costs
360 Property, Plant and Equipment
360-20 Real Estate Sales

410 Asset Retirement and Environmental Obligations
420 Exit or Disposal Cost Obligations
450 Contingencies
450-20 Loss Contingencies
450-30 Gain Contingencies
480 Redeemable Financial Instruments

505-20 Stock Dividends, Stock Splits
505-30 Treasury Stock

605 SEC Staff Accounting Bulletin, Topic 13
605-25 Revenue Recognition - Multiple Element Arrangements

715-30 Defined Benefit Plans - Pension
718 Share-Based Payment
730 Research and Development
730-20 Research and Development Arrangements

805 Business Combinations
810 Consolidation
810 Noncontrolling Interests
810 Consolidation of Variable Interest Entities, SFAS 167

815 Derivatives and Hedging Overview

820 Fair Value Measurements
820 Fair value when the markets are not active, FSP FAS 157-4
825 Fair Value Option

830 Foreign Currency Matters
830-20 Foreign Currency Transactions
830-30 Translation of Financial Statements
835 Interest
835-20 Capitalization of Interest
835-30 Imputation of Interest

840 Leases
840-20 Operating Leases
840-30 Capital Leases
840-40 Sale-Leaseback Transactions
845 Nonmonetary Transactions

855 Subsequent Events
860-20 Sale of Financial Assets, SFAS 166
860-50 Servicing Assets and Liabilities, SFAS 156

985-20 Costs of software to be sold


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Tax Code (Internal Revenue Code) Section Index




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