Slims Posted June 23, 2013 Report Share Posted June 23, 2013 I have read a lot of these threads and i understand most of you guys are in the "get a tax id and report your earnings". I also think that is the safe thing to do and honestly the hassle of it is what keeps me from selling any of my lures. But it got me thinking about ebay and swap meets etc... If you insert anything other than plastic lure in the sentence it changes my outlook. I seriously doubt that aunt mary who sells her hand stiched pin cushions and hand knitted doilies on ebay has any sort of tax id. I doubt uncle vinny that sells used cds and hand tools at the weekend swapmeet at the local juco has any tax id or reports "earnings". I would go out on a limb and say most ebay sellers dont report earnings. I know if i actually sold any baits it would barely cover the costs of buying more plastisol or colorants or molds. So in your opinions what is the difference? Why do ebayers and swapmeeters and yard salers get a pass? Just curious Quote Link to comment Share on other sites More sharing options...
JSC Posted June 23, 2013 Report Share Posted June 23, 2013 (edited) Because it is the law ... Comes under the Dingle-Johnson bill ... it is a federal excise tax and 10% is paid by the MFG for what ever he sells it for ... This money is suppsoe to come back to fishermen in various and sundry things .. such as improved launching ramps and many more things ... Are they spending it correctly ?? thats a good question .... Some of the others on Ebay or what ever selling other "Stuff" may/maynot have an excise tax of some sort to pay ?? What concerns us is Fishing Tackle. Edited June 23, 2013 by JSC Quote Link to comment Share on other sites More sharing options...
garthsnooks Posted June 23, 2013 Report Share Posted June 23, 2013 slim, I would strongly suggest you pay it, though I know it's a pain. do they spend it correctly...uh...errr, yeah, sure they do . IRS has shown us what kind of org. they are. Guess we have to "render unto Caesar what is Caesar's" Quote Link to comment Share on other sites More sharing options...
bobv Posted June 23, 2013 Report Share Posted June 23, 2013 The excise tax we are talking about applies to fishing lures made from scratch to be sold. Granny selling doilies doesn't pay it because it does not apply to doilies. Some on ebay are middle men buying and selling. I'm sure some aren't legit but some never are. The money is supposed to go back to conservation/wildlife as mentioned above. You can google" Dingle-Johnson sport fishing act " to get details. Quote Link to comment Share on other sites More sharing options...
Slims Posted June 24, 2013 Author Report Share Posted June 24, 2013 Finally an answer. I was unaware that it was specific to fishing tackle. That makes better sense. So do i have to get a tax id if i plan to sell any lures or can i just claim it as income when i do my taxes? Quote Link to comment Share on other sites More sharing options...
bluetickhound Posted June 24, 2013 Report Share Posted June 24, 2013 Finally an answer. I was unaware that it was specific to fishing tackle. That makes better sense. So do i have to get a tax id if i plan to sell any lures or can i just claim it as income when i do my taxes? Smallmouthaholic's post (i think it's the 7th one down) is the best advice I could imagine on this subject.... http://www.tackleunderground.com/community/index.php?/topic/26527-should-i-get-a-tax-id-number/#entry202366 1 Quote Link to comment Share on other sites More sharing options...
dlaery Posted June 24, 2013 Report Share Posted June 24, 2013 Here is something paid for with excise tax http://mdc.mo.gov/regions/kansas-city/lost-valley-hatchery Quote Link to comment Share on other sites More sharing options...
Baitjunkys Posted June 24, 2013 Report Share Posted June 24, 2013 Finally an answer. I was unaware that it was specific to fishing tackle. That makes better sense. So do i have to get a tax id if i plan to sell any lures or can i just claim it as income when i do my taxes?income and excise tax are two totally separate things. Without proper business license, tax license etc. You open the door to legal troubles eventually. If your state has sales tax you are suppose to collect that of your product as well. And report and pay the state. Legal advice on the matter really should be from a professional in your state. If we tell you something and are inaccurate. You could operate unlawfully and be fined etc. I don't think anyone here wants to be responsible for that. Just my 2 cents worth. Quote Link to comment Share on other sites More sharing options...
Bass4Me Posted June 28, 2013 Report Share Posted June 28, 2013 For the record... Ebay changed it's rules for 2013. Any items sold on Ebay by the same person over the set income limit for the year will result in Ebay sending a w-2 to the seller and the IRS! Quote Link to comment Share on other sites More sharing options...
