What does Preamble of Sporting Goods Excise Tax Modernization Act do?

This bill, formally titled 'To amend the Internal Revenue Code of 1986 to treat certain marketplace providers as importers for purposes of the excise tax on sporting goods,' aims to modify the Internal Revenue Code of 1986.

What does SHORT TITLE. of Sporting Goods Excise Tax Modernization Act do?

This bill is formally titled the Sporting Goods Excise Tax Modernization Act.

What does CERTAIN MARKETPLACE PROVIDERS TREATED AS IMPORTERS FOR PURPOSES of Sporting Goods Excise Tax Modernization Act do?

This section amends Section 4162 of the Internal Revenue Code of 1986 to treat certain marketplace providers as importers for purposes of the excise tax on sporting goods. A 'specified marketplace sale' occurs when a marketplace provider offers listing and payment services, the article is transported from outside the U.S., and the manufacturer isn't the marketplace provider. A 'marketplace provider' is defined as a person in the trade or business of hosting listings and collecting payments. Related persons are treated as one person when applying the rules regarding marketplace providers. The term 'taxable sporting good article' refers to articles subject to tax under Section 4161. The rule doesn't apply if the tax would otherwise be imposed on someone other than the purchaser. The Secretary is authorized to issue regulations to implement this subsection. The amendment applies to sales during calendar quarters beginning more than 60 days after the Act's enactment. The section clarifies that applying this rule doesn't imply whether other persons are importers for Section 4161 purposes.

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Sporting Goods Excise Tax Modernization Act

Last updated: 5/7/2025 · Introduced: 5/7/2025

Author: Tommy Tuberville (R-AL)

TL;DR (AI)

This bill modifies the Internal Revenue Code to treat certain marketplace providers as importers for the excise tax on sporting goods.
The legislation defines 'marketplace providers' as entities offering listing and payment services for goods transported from outside the U.S.
The changes apply to sales occurring more than 60 days after the bill's enactment.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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