Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Product Reviews | Recipes | Home RSS
 
 
 

A Tax Plan That Works — Really!

June 14, 2011
By Larry Claypool, OVO Editor
Finally someone has reported on a tax plan in this country that WORKS!

Yes, a tax plan that works, and benefits the outdoor industry — on both ends. I read with great interest the article on Page 11, titled ‘Excise Taxes Create Enormous Return on Investment to Outdoor Industry’.

In a nutshell, excise taxes are collected from outdoor industry manufacturers and importers for sales on outdoor items such as fishing lures, rods and reels, firearms, ammunition and other products. Hunting-, shooting- and fishing-related taxes are collected under the Federal Aid in Wildlife Restoration Act and Sport Fish Restoration Act respectively and then the taxes are used to maintain fish and wildlife populations, provide public access and support programs that directly benefit hunters, shooting sports enthusiasts and anglers.

Wow, a tax system that works. Both sides benefit. Consumers benefit from state and federal agencies that are apportioned tax monies for conservation, creation of recreational and educational opportunities and wildlife management efforts. Manufacturers get a return on their investment when consumers purchase products to hunt, fish and enjoy the outdoors. The cycle continues — and everyone wins.

State and federal agencies benefit from the excise tax too — directly and indirectly. They get some of the tax funds and benefit too when hunting and fishing licenses are purchased.

“On average, the hunting- and shooting sports-related industry paid $251 million in excise taxes, but made $3.1 billion in revenue through sportsmen purchases each year from 1970 to 2006. From 1955 to 2006, the sport fishing industry on average contributed $110 million in annual tax payments/import duties, but generated $2.3 billion in annual taxable equipment sales,” says the report, which was done by Southwick Associates and Andrew Loftus Consulting for the Association of Fish and Wildlife Agencies.

The opening paragraph of the article is what caught my eye. It says, “that federal excise taxes collected on the sale of hunting and shooting equipment represented an approximate 1,100 percent annual return on investment (ROI) to manufacturers between 1970 to 2006 and taxes collected on sport fishing equipment generated a striking annual ROI of 2,157 percent between 1955 and 2006.”

That’s a wide spectrum of outdoor-related businesses and involves a staggering number of consumers that enjoy hunting, fishing or both — including you and I, and probably everyone reading this publication.

“The Benefits to Business from Hunting and Fishing Excise Taxes” report along with full reports that include technical details, are available for free at www.SouthwickAssociates.com/excisetaxROI.

Fact Box

That’s a wide spectrum of outdoor-related businesses and involves a staggering number of consumers that enjoy hunting, fishing or both — including you and I.

Article Links

 
 

 

I am looking for:
in:
News, Blogs & Events Web