Tying commercaly

Fly Patterns
41

jcntheriver (and others who advise ignoring the law)

Please tell me where in the federal excise tax code it says you are exempt from paying the excise tax if you make less than $500.00. The tax is 10 % of your selling price. Period.

If a young person wants to sell flies, then by all means do it. BUT, there is a right way and a wrong way. To tell a young person to ignore the law is just not acceptable. I don’t think we want our youth to grow into adulthood with an attitude that it is ok to ignore the law of the land. You can not pick and choose which laws you choose to obey.

Sorry if this sounds like a rant but when comeone wants information, lets give them the coreect information and not some opinion that can land them in trouble with the law at a later time.

JZ
Check into all aspects of what you want to do. I think you will find it can be done and done right. Good luck with the venture!

fishbum

42

Fishbum has it right. Unless I missed a change in the last 10 years, you are required to file the quarterly excise tax form even if your sales for that particular quarter were “zero”, and the first dollar of sales is taxable. It’s not really a big deal. Once you figure out which entries on the form don’t apply to you (and there are alot of them), it takes 2 minutes or less to file the form. Just build the 10% into your pricing, keep track of your sales, run a total every 3 months, and you have everything you need. There is absolutely no logic in allowing your passion for fly tying to set you up for headaches from the Treasury Department.

Good Fishing,
Arnie

43

not to hijack or anything,

i am also 14 and tie lots of flies and am thinking about getting into selling some flies 8)
this thread has helped me lots !!!