H.R.5394 - To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components.108th Congress (2003-2004)
|Sponsor:||Rep. Ryan, Paul [R-WI-1] (Introduced 11/19/2004)|
|Committees:||House - Ways and Means|
|Latest Action:||12/23/2004 Became Public Law No: 108-493. (TXT | PDF) (All Actions)|
This bill has the status Became Law
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.5394 — 108th Congress (2003-2004)All Information (Except Text)
Introduced in House (11/19/2004)
Repeals provisions enacted by the American Jobs Creation Act of 2004 relating to the excise tax on arrows.
Amends the Internal Revenue Code to revise the excise tax on arrows, effective after March 31, 2005, to: (1) impose a tax equal to 39 cents per arrow shaft on the first sale of such shaft (instead of a 12.4 percent tax on the sales price), with inflation adjustments on such 39-cent amount after 2005; and (2) include points suitable for use with arrows in the 11 percent excise tax on arrow parts and accessories.