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