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Firearms Industry Excise Tax Obligations Up 8 Percent
Gun sales and Ammunition sales keeping strong record pace.

Firearms and Ammunition Excise Tax Collection Chart

National Shooting Sports Foundation

NEWTOWN, Conn --(Ammoland.com)- The latest Firearms and Ammunition Excise Tax Collection report released by the Department of the Treasury indicates that firearm and ammunition manufacturers reported tax liabilities of $110.1 million in the first calendar quarter of 2011, up 8.2 percent over the same period last year.

The report, which covers the time period of Jan. 1 through March 31, shows that $37.12 million was due in taxes for pistols and revolvers, $33.71 million for firearms (other)/ long guns and $39.27 million for ammunition (shells and cartridges).

Compared to the same time period in 2010, tax obligations were up 18.5 percent for pistols and revolvers, up 7.19 percent for firearms (other)/ long guns and up 0.74 percent for ammunition (shells and cartridges).

About NSSF
The National Shooting Sports Foundation is the trade association for the firearms industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of more than 6,000 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers. For more information, log on to www.nssf.org.

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South Carolina “Second Amendment” Sales Tax Holiday is Nov. 28 – 29

South Carolina “Second Amendment” Sales Tax Holiday is Nov. 28 – 29

Congressional Sportsmen

Washington, DC --(Ammoland.com)- South Carolina will waive the state’s sales and use tax on purchases of handguns, rifles and shotguns during the first annual Second Amendment Sales Tax Holiday Nov. 28 – 29.

The 48-hour tax break on firearm purchases begins at 12:01 a.m. Nov. 28 and continues through midnight Nov. 29.

The tax exemption also applies to any local sales and use tax.

State implemented sales tax holidays are not a new concept. However, recently, such holidays have been implemented to benefit distributors and purchasers of firearms, ammunition, and other outdoor sporting goods.

The South Carolina legislature passed legislation that created the “Second Amendment” holiday and it occurred for the first time in December of 2008 and gun sales soared (650% increase in one day), resulting in a huge stimulus to the local firearms businesses of South Carolina.

About:
The Congressional Sportsmen’s Foundation celebrated its 20th anniversary in 2009. Throughout this time, CSF has maintained a singleness of purpose that has guided the organization to become the most respected and trusted hunting and fishing organization in the political arena. Visit: www.sportsmenslink.org

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