Hunting & Fishing Excise Taxes: Big Benefits for Business in America
Imagine a business investment that yields a return of more than 1,000 percent. If you were to guess the industry where such a return on investment (ROI) was possible, most people would guess energy, technology, defense or medical industries or even that historic standby, real estate. But they would be wrong. However, such investments are a reality, in the sportfishing, hunting and shooting sports industries courtesy of the Wildlife and Sport Fish Restoration programs. Thanks to those programs, hunting manufacturers have enjoyed a 1,100 percent return on funds invested in generating improved hunting opportunities, while sportfishing-based companies have witnessed an amazing 2,157 percent.
Through excise taxes collected on many hunting, fishing and shooting products as part of these restoration programs, monies are returned to states to increase and improve outdoor opportunities. As a result, sportsmen and women have more outdoor opportunities in which to engage and ultimately spend more on products made by the same companies who pay the tax. Between 1970 and 2006, excise tax collections averaged $251 million per year with all of these funds invested into fish and wildlife efforts. In that same time frame, hunters and shooters alone purchased an average of $3.1 billion in taxable outdoor items per year.
For more details on how excise tax investments are yielding big returns across America, check out the full report, produced for the Association of Fish and Wildlife Agencies: Hunting & Fishing Excise Taxes: Benefits for Business.