{Tidal Potomac Fly Rodders} Re: Fw: WHAT???

Did my brother get suckered in on this one.....now that's a first!

Brother John

On Wednesday, September 17, 2014 11:06:52 AM UTC-4, Bruce wrote:

 

Who knew a fishing rod was a medical device?

CABELA'S
Medical Excise Tax on Retail Receipts?

This is an image of a sales receipt from Cabela's, a popular sporting goods store.


The 2.3% Medical Excise Tax that began on January 1st is supposed to be "hidden" from the consumer, but it's been brought to the public's attention by hunting and fishing store Cabela's who have refused to hide it and are showing it as a separate line item tax on their receipts, the email states.
 
I did some research and found directly from the IRS's website information that PROVES this to be true and an accurate portrayal of something hidden in Obamacare that I was not aware of! Now being skeptical of this I went to the IRS website and found this!
 
Q1. What is the medical device excise tax? A1. Section 4191 of the Internal Revenue Code imposes an excise tax on the sale of certain medical devices by the manufacturer or importer of the device.

 

Q2. When does the tax go into effect? A2. The tax applies to sales of taxable medical devices after Dec. 31, 2012.

 

Q3. How much is the tax? A3. The tax is 2.3 percent of the sale price of the taxable medical device. See Chapter 5 of IRS Publication 510, Excise Taxes, and Notice 2012-77 for additional information on the determination of sale price.  IRS.gov <http://irs.gov/> <http://irs.gov/> 

 

Chapter Five http://www.irs.gov/publications/p510/ch05.html <http://www.irs.gov/publications/p510/ch05.html> 

So being more curious I clicked on "Chapter 5 Of IRS Publication 510."

And what do I find under "MEDICAL DEVICES" under "MANUFACTURERS TAXES"?

The following discussion of manufacturers taxes

Applies to the tax on:

Sport fishing equipment;

Fishing rods and fishing poles;

Electric outboard motors;

Fishing tackle boxes;

Bows, quivers, broad heads, and points;

Arrow shafts;

Coal;

Taxable tires;

Gas guzzler automobiles;
 
and

Vaccines.

 

IRS.gov <http://irs.gov/> <http://www.irs.gov/pub/irs-pdf/p510.pdf>

  

[ Political rant deleted ]

Anyone else heard about this? 

Just curious

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