Sporting Goods Excise Tax Modernization Act

Bill 119 hr 1494, also known as the Marketplace Provider Excise Tax Simplification Act, aims to amend the Internal Revenue Code of 1986 in order to classify certain marketplace providers as importers for the purpose of the excise tax on sporting goods. This bill specifically targets online marketplace platforms that facilitate the sale of sporting goods.

The bill seeks to simplify the tax process by treating these marketplace providers as the importers of the sporting goods, rather than the individual sellers. This would streamline the tax collection process and ensure that the appropriate excise tax is paid on these goods.

By classifying marketplace providers as importers, the bill aims to ensure that all sporting goods sold through these platforms are subject to the excise tax, regardless of the seller. This would help to level the playing field for brick-and-mortar sporting goods retailers who are already subject to the excise tax. Overall, the Marketplace Provider Excise Tax Simplification Act is designed to modernize the tax code and ensure that all sporting goods sold through online marketplaces are subject to the same tax regulations as those sold through traditional retailers.