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FET question
Posted by:
Peter Appel
(---.blrgga.dsl.dynamic.tds.net)
Date: October 10, 2009 10:14AM
Hi folks,
There have been a couple of threads about charging Federal Excise Tax on rod builds which I've found very helpful, but I do have a question. I have done a couple where the customer gave me a fully functional rod, in one case almost brand new, which I then completely stripped, repainted and used as the blank for their rod. Since the rod I used was complete, does this type of build consitute a VERY extensive repair, on which no tax would be due, or is it considered a new rod? Thanks for your help. Pete Appel Re: FET question
Posted by:
kevin knox
(---.baybroadband.net)
Date: October 10, 2009 02:35PM
FET has been paid on the blank, but not on the guides grips or reelseat (I can only assume since it was not mentioned) so I would say that FET is due on the value, minus the blank.
Thats what I would do anyway. Kevin Re: FET question
Posted by:
Tom Kirkman
(Moderator)
Date: October 10, 2009 04:02PM
No tax is due on a rebuild. Only on first time, new rods.
............ Re: FET question
Posted by:
Kyle Robinson
(---.cdrr.qwest.net)
Date: October 10, 2009 09:15PM
Invoice the customer for parts, and labor. Do not even mention "rebuild new rod". You will be fine. It is a repair, with some new parts. Kind of like taking a car to the body shop! Re: FET question
Posted by:
Peter Appel
(---.blrgga.dsl.dynamic.tds.net)
Date: October 11, 2009 09:45AM
Thanks for the input, folks! That was my thinking also - it's just a more extreme example of a repair like a reel seat replacement on a one piece rod, where just about everything has to come off to do the fix. I recently had the luxury of doing a build on a new blank - couldn't believe how much easier and faster it was! Sorry, only registered users may post in this forum.
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