President Signs Arrow Tax Changes into Law

On December 23, 2004, President Bush signed into law legislation that repeals the excise tax on whole arrows that was originally enacted as part of the American Jobs Creation Act of 2004 (P.L. 108-357) The new law also replaces, effective after March 31, 2005, the 12.4 percent excise tax on shafts, points, nocks and vanes with an excise tax on shafts alone at a rate of 39 cents per shaft, subject to inflation adjustments after 2005 in increments of whole cents. Points have been added to quivers and broadheads subject, along with bows with a draw weight of 30 pounds for more, to the 11 percent excise tax on archery equipment.

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Wolters Kluwer Tax and Accounting

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