Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 08/28/2010 5:57:38 AM PDT by marktwain
The President has signed into law the Firearms Excise Tax Improvement Act of 2010 (H.R. 5552). The bill passed the House of Representatives at the end of June by a vote of 412-6 and on August 5 it cleared the Senate by unanimous consent.
This important legislation corrects a longstanding inequity in the Internal Revenue Code by permitting firearm and ammunition manufacturers to pay the federal excise tax payment on a quarterly basis, just as other industries that support conservation through a federal excise tax do. Currently, firearms and ammunition manufacturers pay this tax on a bi-weekly schedule, forcing many manufacturers to borrow money to ensure on-time payment. Industry members spend thousands of staff-hours administering the necessary paperwork to successfully complete the bi-weekly tax payments — monies that are due to the federal government long before manufacturers are paid by their customers.
Importantly, HR 5552 pays for itself and does not add to the budget deficit. Nor does the bill lower the amount of conservation dollars collected by lowering the tax rate. It simply adjusts the payment schedule to a quarterly period.
The firearm and ammunition excise tax is the major revenue source for funding the Wildlife Restoration Trust Fund (also known as the Pittman-Robertson Trust Fund). Last year, firearm and ammunition manufacturers contributed approximately $450 million dollars to wildlife conservation through excise tax payments.
The signing of HR 5552 into law is a major victory for America's firearms industry, sportsmen and conservation advocates everywhere.
Notice the article uses the word “donate” for the monies ammo companies pay in excise taxes. There is no donation involved, it is legal robbery plain and simple.
LOL! Yeah, and the Income Tax is "voluntary" so says the IRS.....
agree
I used to be able to pay my 2290 quarterly. Now it’s due annually. Tax receipts for this month (quarter) should be up.
Changing from biweekly to quarterly payments only makes it look slightly less like a protection racket, with the “protected” handing over a brown paper bag stuffed with cash.
you cant make this stuff up...
Nothing but Congress and the usurper buying November 2 votes!
Typical election year pandering because this runs totally contrary to all Democrat principles. They want to drive all firearms and ammunition makers out of business without seeming to run afoul of #2. But the desire to remain in power is too strong for them to resist.
It does? Where? I can't find it.
Sorry when I read the article I would have sworn it said donate but it says contributed(which I still interpret to mean voluntarily gave to). You are entirely correct in saying it isn’t there.
No prob. I agree w/ you. Contribute implies a voluntary act.
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