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H.R. 5394 (108th): To amend the Internal Revenue Code of 1986 to modify the taxation of arrow components.

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


12/23/2004--Public Law. 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.