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Quarterly Firearm and Ammunition Excise Taxes Up 43%
NSSF ^ | July 31, 2009

Posted on 07/31/2009 2:27:42 PM PDT by jazusamo

NEWTOWN, Conn., July 31 /PRNewswire-USNewswire/ -- During a time period of great economic uncertainty, firearm and ammunition sales have continued to increase throughout the country.

According to the most recent Firearms and Ammunition Excise Tax Collection Report, released earlier today by the Department of the Treasury, firearm and ammunition manufacturers paid more than $109.8 million in the first calendar quarter of 2009; up 43% over the same time period reported in 2008.

This dramatic increase follows a 31.3 percent increase in excise taxes from the previous quarter (4Q, 2008) and eight straight months of increased FBI background checks - another strong indicator of firearm sales.

A third reliable source, the National Sporting Goods Association (NSGA), reported that in 2008, "Hunting and Firearms" equipment was the only category to grow double digits and only one of seven categories that exhibited growth. NSGA's forecast for 2009 shows "Hunting and Firearms" as one of only two categories to exhibit growth.

Manufacturers of firearms and ammunition pay a federal excise tax -- a major source of wildlife conservation funding -- on all firearms and ammunition manufactured (11% on long guns and ammunition and 10% on handguns).

This latest excise tax report, which covers the time period of January 1, 2009 through March 31, 2009, shows that $33.0 million was collected in taxes for pistols and revolvers, $38.9 million for long guns and $37.8 million for ammunition. Compared to the same quarter in 2008, collections were up 65.5% for handguns, 42.9% for ammunition and 28.3% for long guns.

Translation to sales:

Using the latest collections as an indicator of sales, a projection of $1.03 billion was generated in the first quarter (calendar year) of 2009. Please keep in mind that although excise taxes are one of the best indicators of industry performance, they only report what the manufacturers paid in taxes and do NOT reflect retail mark-up and final retail sales.

Pistols and revolvers: $33,043,554.83 / .10 = $330,435,548.30 = $330.4 million for handguns

Long guns: $38,979,972.16 / .11 = $354,363,383.27 = $354.3 million for long guns

Ammunition: $37,846,038.52 / .11 = $344,054,895.64 = $344.0 million for ammunition

Total estimation for the quarter: $1.028 billion


SOURCE National Shooting Sports Foundation



TOPICS: Business/Economy; Culture/Society; Front Page News
KEYWORDS: 2ndamend; ammo; banglist; economy; guns; irony; taxes

1 posted on 07/31/2009 2:27:42 PM PDT by jazusamo
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To: All
Please bump the Freepathon and donate if you haven’t done so!

2 posted on 07/31/2009 2:29:33 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

Gee, I wonder why?


3 posted on 07/31/2009 2:30:13 PM PDT by Islander7 (If you want to anger conservatives, lie to them. If you want to anger liberals, tell them the truth.)
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To: jazusamo

Headline is somewhat misleading, as is the article. Should state “excise tax COLLECTIONS” are up XX%. Otherwise one is led to think that government has increased the tax on firearms, which, although I’m sure they would like to, they have not yet done.


4 posted on 07/31/2009 2:31:07 PM PDT by Wonder Warthog ( The Hog of Steel)
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To: Islander7

Doubt if it was due to an increase in hunting and shooting sports. :)


5 posted on 07/31/2009 2:32:09 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: gieriscm

Ping


6 posted on 07/31/2009 2:32:50 PM PDT by BCR #226 (07/02 SOT www.extremefirepower.com...The BS stops when the hammer drops.)
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To: jazusamo

“The right to keep and bear arms shall not be infringed” - US Constitution, Amendment 2: this means what it says, Connecticut. Taxation of firearms or the ammunition upon which their use depends constitutes an “infringement”. Words mean things. People who wish to stay free need to mean them, too.


7 posted on 07/31/2009 2:35:28 PM PDT by andy58-in-nh (You have enemies? Good. That means you've stood up for something, sometime in your life.)
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To: jazusamo
Manufacturers of firearms and ammunition pay a federal excise tax -- a major source of wildlife conservation funding -- on all firearms and ammunition manufactured (11% on long guns and ammunition and 10% on handguns).
8 posted on 07/31/2009 2:35:32 PM PDT by Texas Fossil (The last time I looked, this is still Texas where I live.)
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To: jazusamo

9 posted on 07/31/2009 2:39:07 PM PDT by Repeal The 17th (I AM JIM THOMPSON!)
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To: andy58-in-nh

This is not Conn., it’s the federal excise tax.


10 posted on 07/31/2009 2:39:44 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo
Well, At least there's one industry thriving (for the moment) under obamination. Thank you barry O'Bumbler!


11 posted on 07/31/2009 2:51:38 PM PDT by rockrr (Everything is different now...)
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To: rockrr

LOL!

Good one, that’s a keeper.


12 posted on 07/31/2009 2:55:54 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

I’ve done my part!

All 3


13 posted on 07/31/2009 3:00:27 PM PDT by dynachrome (I am Jim Thompson!)
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To: dynachrome

You’ve outdone me, just ammo for me. :-)


14 posted on 07/31/2009 3:13:32 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo
This is not Conn., it’s the federal excise tax.

I see that now. Properly interpreted, the Constitution would forbid it. I look forward to a time when we regain all the freedoms we citizens have ceded by default or by neglect.

15 posted on 07/31/2009 3:55:08 PM PDT by andy58-in-nh (You have enemies? Good. That means you've stood up for something, sometime in your life.)
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To: dynachrome

All 3 for me too.


16 posted on 07/31/2009 4:59:46 PM PDT by Red in Blue PA (If guns cause crime, then all of mine are defective!)
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To: jazusamo

Hopefully, several more individual States will take the lead of those States making “State use” ammunition. While the ATF is adamant that all weapons and ammunition are under its control, this is another 10th Amendment issue, and an important one.

But more than that, by having in-State production of ammunition, the State can help alleviate ammunition shortages, with a no-cost encouragement for a manufacturer to begin production in the State, and encouraging gun owners to buy State produced ammunition, as a matter of “State pride”.

Individual States could further assist the process by encouraging firearms training and use. Authorizing franchised shooting ranges on State land, and creating a State school rifle club competition, would be a big help in having a comprehensive strategy.


17 posted on 07/31/2009 4:59:56 PM PDT by yefragetuwrabrumuy
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To: andy58-in-nh

Agreed, and sadly those freedoms being lost are in all aspects of life.


18 posted on 07/31/2009 5:03:21 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo; blackie

OMG! The only tax that is paying off! Priceless! LOL


19 posted on 07/31/2009 5:04:00 PM PDT by AuntB (Tired of Left/right coast globalist party power brokers? How 'bout THE HEARTLAND AMERICA PARTY??)
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To: yefragetuwrabrumuy

Good points and the states should be handling this, IMO.


20 posted on 07/31/2009 5:07:19 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: AuntB

LOL! Yes, and at least it benefits wildlife whereas groups like PETA and HSUS just raise millions for frivilous lawsuits.


21 posted on 07/31/2009 5:09:38 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

“LOL! Yes, and at least it benefits wildlife”

This is just too rich! The irony is so thick you could barricade the entire Mexican border with it. Do you think it dawns on the lefties at all?

The enviros finally noticed today that Mexican drug cartels are destroying the national forests.

Cartels Turn U.S. Forests Into Marijuana Plantations, Creating Toxic Mess
http://www.freerepublic.com/focus/f-news/2305516/posts


22 posted on 07/31/2009 5:17:52 PM PDT by AuntB (Tired of Left/right coast globalist party power brokers? How 'bout THE HEARTLAND AMERICA PARTY??)
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To: AuntB
Y'know, it does get a little old sometimes how the lefties will follow any Jim Jones in the world, and then when he turns out to be a murdering lunatic, they just call him a right winger and follow the next lunatic.

You're correct of course. In addition to the toxic chemicals they dump in the national forests, they're planting land mines, trip wires with explosives and using snipers to kill people that stumble upon the growing fields.

On the light bulbs, they're outlawing incancesdents and mandating fluorescents which contain mercury, but just a few years ago they outlawed mercury thermometers because mercury was too dangerous.

23 posted on 07/31/2009 5:23:44 PM PDT by Richard Kimball (We're all criminals. They just haven't figured out what some of us have done yet.)
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To: jazusamo

bump


24 posted on 07/31/2009 5:25:54 PM PDT by Covenantor ("Men are ruled...by liars who refuse them news, and by fools who cannot govern." Chesterton)
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To: AuntB

Thanks for the link, I missed that.

Don’t know why it took the enviros so long to realize this. I’m sure a good many of them were growing the weed in So OR 25 or more years ago, we’d see the drug helicopters going over our place every once in a while.

Those enviros wouldn’t have to be too bright to realize the cartels are doing it now but with much greater damage to the land and posing much more danger to anyone stumbling on them.


25 posted on 07/31/2009 5:38:16 PM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: rockrr
Firearms, Ammo, Clips, Optics, and Misc. Accessories Salesman of the Year

Fixed. ;-)

26 posted on 07/31/2009 5:44:20 PM PDT by 50cal Smokepole (Effective gun control involves effective recoil management)
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To: 50cal Smokepole
I like it...how about this:



"There's something about a fellow who can sell firearms and firearm accessories like that Mr. obama can!"
27 posted on 07/31/2009 6:00:57 PM PDT by rockrr (Everything is different now...)
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To: rockrr

LOL!


28 posted on 07/31/2009 6:03:14 PM PDT by 50cal Smokepole (Effective gun control involves effective recoil management)
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To: Islander7
Image and video hosting by TinyPic "STOP A'LOOKIN" AT ME!!!" Image and video hosting by TinyPic ...;0)
29 posted on 07/31/2009 8:47:05 PM PDT by 1COUNTER-MORTER-68 (THROWING ANOTHER BULLET-RIDDLED TV IN THE PILE OUT BACK~~~~~)
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To: dynachrome

Around here, “we’re gonna need a bigger vault”.


30 posted on 07/31/2009 9:12:35 PM PDT by MadMax, the Grinning Reaper
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To: Wonder Warthog

and just think how much more couldve been if not for the ammo shortages...


31 posted on 07/31/2009 9:33:50 PM PDT by Gilbo_3 (Luke 22:36...Trust in the Lord...=...LiveFReeOr Die...)
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To: AuntB

Guns and Ammo sales up...good news!!


32 posted on 08/01/2009 11:33:16 AM PDT by blackie (Be Well~Be Armed~Be Safe~Molon Labe!)
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To: rockrr

Outstanding!!!


33 posted on 08/02/2009 4:34:17 PM PDT by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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