A Landmark Law Like No Other
Every time you sell a lure, a tackle box or gas for a boat, you’re funding fishing and boating programs.
The post-World War II years saw an explosion in the number of anglers. To accommodate the need for healthy and abundant fish, the sportfishing industry began promoting recreational fisheries conservation and the advancement of fisheries science and management.
To pay for these efforts, in 1950 Congress passed the Federal Aid in Sport Fish Restoration Act, also known as the Dingell-Johnson Act, after its Congressional sponsors, Sen. Edwin Johnson of Colorado and Rep. John Dingell, Sr. of Michigan.
Sportfishing gear manufacturers pay a percentage of their product costs in excise taxes which are combined with an excise tax on certain motorboat fuel.
These tax monies are pooled into a special fund, and later matched by state fish and wildlife agencies, primarily through fishing license sales.
Ultimately, this pays for much of this country’s fisheries and habitat conservation as well as the infrastructure that allows access to fishing and boating.
The U.S. Fish and Wildlife Service offers a comprehensive overview of the Sport Fish Restoration program.
Manufacturer’s Federal Excise Tax Guide
Paying the Federal Manufacturers’ Excise Tax
If you pay the federal excise tax on sportfishing equipment, you know how difficult it can be to find Internal Revenue Service (IRS) rules and regulations governing the payment of the tax. The Guide to Paying the Federal Excise Taxes on Sportfishing Equipment (2015) is intended to help you understand the Internal Revenue Service (IRS) rules and regulations governing the payment of the tax.
The Guide to Paying the Federal Excise Taxes on Sportfishing Equipment (2015) guide includes a complete overview of which products are taxed, who must pay the tax and how the tax is calculated which should help you comply with tax requirements. The information contained in this guide is intended as a general guide for use by ASA’s members.
The Guide to Paying the Federal Excise Taxes on Sportfishing Equipment (2015) was produced by ASA though a partnership with Deloitte Tax, LLP.
Specific advice on a product-by-product or transaction basis should be obtained from your accountant or tax attorney.
Click here for IRS information regarding paying the Federal Excise Tax on the Importation and Manufacture of Fishing and Archery Products.
Request a Guide
As a benefit of your ASA membership, you can request a Guide to Paying the Federal Excise Taxes on Sportfishing Equipment free of charge.