Federal excise tax collections on certain hunting and fishing equipment increased July 1 through December 31, 1962, over a like period in 1961, the Department of the Interior announced today.
Collections on sporting arms and ammunition were $10,619,000 an increast of 6.8 percent over the $9,937,000 recorded for the last half of 1961. Collections from all 1962 were $15,590,000; for 1961, $14,761,000.
Excise tax collections on sport fishing tackle in the last half of 1962 were $2,521,000 or 1.9 percent more than the $2,474,000 collected during the same period of 1961. Collections for all 1962 were $6,080,000; for 1961, $5,662,000.
The Federal excise tax on sporting arms and ammunition was authorized by Congress in 1937. Commonly known as the Pittman-Robertson Act after its sponsor in Congress, this legislation earmarks for wildlife restoration projects and 11 percent excise tax on the manufacturer’s price on sporting arms and ammunition.
The excise tax on sport fishing equipment is 10 percent of the manufacturer’s price. This tax was authorized in 1950 by the Federal Aid in Fish Restoration Act, commonly known as the Dingell-Johnson Act, also after its sponsors in congress.
Funds from these taxes are shared by the States in proportion to paid license holders and State area. The money is used to establish public hunting areas, fishing access sites, fishing lakes, waterfowl marshes, research and other types of fish and wildlife restoration. The States bear the cost of approved projects and are then reimbursed by the Federal Government for up to 75 percent of the outlay.
