Patrick not to derail this discussion but please don't refer to this as a HOOK TAX. It's NOT and saying this perpetuates the MYTH that people think they can get away with selling a lure without hooks or out of packages and not having to pay excise tax. These guys are breaking the law and are no worse than poachers. It's a excise tax paid on a fishing lure. IRS definition of a fishing lure is an item with or WITHOUT hooks meant to catch a fish or entice a fish to strike it. Contrary to many people's ill thought notions there is no distinction between a lure with or without hooks. IRS says ANYTHING that "embellishes, improves the appearance, operation, or durability" of a fishing lure is subject to excise tax. That means finished lures, plain bodies, kits, hooks, eyes, grommets, weights, swivels, split rings, etc etc IS ALL SUBJECT TO EXCISE TAX.
Woe be the person who gets audited for this as many have found for themselves. And nobody seems to care except the people who legally pay their way. This problem is so pervasive it's disgusting. On my trip to the NY/NJ/CT area a month ago I saw so many illegal lures it was just downright wrong.
Maybe you can lobby for that next...bet you'd see a HUGE increase in funds going to your state if this BS wasn't going on.
Quote:
Originally Posted by BasicPatrick
Hey Larry...I got a wierd question and really do not mean to be sarcastic.
Bigfish Bait Co pays the hook tax to the Feds.
MA now has an avenue so that it can maximize the amount of that tax that comes back to MA Fisheries and not sit in some federal account.
Are you stating we should fail the license and et the feds keep the money that is doing nothing for us today?
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