Is it allowed in the USA to create a private copy of a CD I bought in a store?

The law allows you to make a backup of your own media. If by share, you mean "let borrow", then the law allows that. If by share, you mean "give a copy" then that is illegal.

Is it allowed in the USA to create a private copy of a CD I bought in a store?

Depends, a backup copy for personal uses of noncopyrighted nonmultimedia works (basically, movies and song not allow for backup copy)

If so, am I allowed to circumvent any technical measure to create a copy?

Depends, see DMCA act for expections : http://www.copyright.gov/1201/

And what about sharing it?

CD must not be copyrighted, otherwise no.

Am I allowed to share it with a good friend or a family member?

See above

Fair use under copyright law allows you to make a backup copies for your own use--I only carry copies to play in my car, for example--but providing a copy to someone else is a violation of copyright law. Sharing under the same roof is a gray area, but I doubt you'd get into trouble for it.

~~ ScienceMikey

No, it's illegal to duplicate it. Sharing it is ok if you are giving them the only copy. According to the law and the recording lobbyists you are suppose to pay for every copy of the music which include ripping it to your computer. It sucks but that's what happens when our politicians are so easily bought.

No, once you purchase the CD it is your sources. Sharing the CD isn't unlawful too they only talk around Copyrigh and all that this is once you place it on the information superhighway and proportion it this is seen unlawful, yet thousands and thousands of folk do it yet unlawful songs fees $one thousand in line with music which you would be paying your complete existence to in case you had 3000 songs. Lol

no copyright law you can go to jail

where have you been this law is almost 20 years old or better

read any move or music cd cpy write laws--it is on the cover of each