Amended 1986, 2004
- 2004 Pub. L. 108-357 Pub. L. 108–357, § 334(b), redesignated subsec. (c) as (b) and struck out heading and text of former subsec. (b). Text read as follows: “For purposes of this part, the term ‘sonar device suitable for finding fish’ shall not include any sonar device which is—
“(1) a graph recorder,
“(2) a digital type,
“(3) a meter readout, or
“(4) a combination graph recorder or combination meter readout.”
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 201(d)(7)(C), (12), made identical amendments, substituting “section 465(b)(3)(C)” for “section 168(e)(4)(D)”.
(a) Sport fishing equipment defined For purposes of this part, the term “sport fishing equipment” means—
Amended 2004
- 2004 Pub. L. 108-357 Pub. L. 108–357, § 334(a), inserted “and” at end of par. (8), substituted a period for “, and” at end of par. (9), and struck out par. (10) which read as follows: “sonar devices suitable for finding fish.”
(1) fishing rods and poles (and component parts therefor),
(2) fishing reels,
(3) fly fishing lines, and other fishing lines not over 130 pounds test,
Cited by 1
(4) fishing spears, spear guns, and spear tips,
(5) items of terminal tackle, including—
(A) leaders,
(B) artificial lures,
(C) artificial baits,
(D) artificial flies,
(E) fishing hooks,
(F) bobbers,
(G) sinkers,
(H) snaps,
(I) drayles, and
(J) swivels,
but not including natural bait or any item of terminal tackle designed for use and ordinarily used on fishing lines not described in paragraph (3), and
(6) the following items of fishing supplies and accessories—
(A) fish stringers,
(B) creels,
(C) tackle boxes,
(D) bags, baskets, and other containers designed to hold fish,
(E) portable bait containers,
(F) fishing vests,
(G) landing nets,
(H) gaff hooks,
(I) fishing hook disgorgers, and
Amended 1986
- 1986 Pub. L. 99-514 Pub. L. 99–514, § 1878(b), amended subpar. (I) generally, substituting “hook” for “hood”.
(J) dressing for fishing lines and artificial flies,
(7) fishing tip-ups and tilts,
(8) fishing rod belts, fishing rodholders, fishing harnesses, fish fighting chairs, fishing outriggers, and fishing downriggers, and
Amended 2004
- 2004 Pub. L. 108-357 Pub. L. 108–357, § 334(a), inserted “and” at end of par. (8), substituted a period for “, and” at end of par. (9), and struck out par. (10) which read as follows: “sonar devices suitable for finding fish.”
(9) electric outboard boat motors.
Amended 2004
- 2004 Pub. L. 108-357 Pub. L. 108–357, § 334(a), inserted “and” at end of par. (8), substituted a period for “, and” at end of par. (9), and struck out par. (10) which read as follows: “sonar devices suitable for finding fish.”
(b) Treatment of certain resales
Amended 2004
- 2004 Pub. L. 108-357 Pub. L. 108–357, § 334(b), redesignated subsec. (c) as (b) and struck out heading and text of former subsec. (b). Text read as follows: “For purposes of this part, the term ‘sonar device suitable for finding fish’ shall not include any sonar device which is—
“(1) a graph recorder,
“(2) a digital type,
“(3) a meter readout, or
“(4) a combination graph recorder or combination meter readout.”
(1) In general If—
Cited by 3
(A) the manufacturer, producer, or importer sells any article taxable under section 4161(a) to any person,
Cited by 1
(B) the constructive sale price rules of section 4216(b) do not apply to such sale, and
(C) such person (or any other person) sells such article to a related person with respect to the manufacturer, producer, or importer,
then such related person shall be liable for tax under section 4161 in the same manner as if such related person were the manufacturer of the article.
(2) Credit for tax previously paid If—
(A) tax is imposed on the sale of any article by reason of paragraph (1), and
(B) the related person establishes the amount of the tax which was paid on the sale described in paragraph (1)(A),
the amount of the tax so paid shall be allowed as a credit against the tax imposed by reason of paragraph (1).
(3) Related person For purposes of this subsection, the term “related person” has the meaning given such term by section 465(b)(3)(C).
(4) Regulations Except to the extent provided in regulations, rules similar to the rules of this subsection shall also apply in cases (not described in paragraph (1)) in which intermediaries or other devices are used for purposes of reducing the amount of the tax imposed by section 4161(a).