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Posts Tagged tax
Conservation Fund Passes 16 Billion
From Ammoland:
NSSF, The Firearm Industry Trade Association, celebrated a milestone achievement after announcing firearm and ammunition manufacturers topped $16.1 billion in excise tax contributions to the Wildlife Restoration Trust Fund since its inception in 1937. When adjusted for inflation, the total is more than $25 billion. The latest Firearms and Ammunition Excise Tax (FAET) Collection report released by the Department of the Treasury, covering the 4th Quarter Calendar Year 2022, indicates that firearm and ammunition manufacturers contributed more than $235 million, the third-highest 4th calendar quarter in history.
Senator Mike Lee Introduces Bill To Remove Regulations On Suppressors
From Bearing Arms:
Lee said his bill, the Silencers Helping Us Save Hearing Act, would eliminate the “onerous†regulation to make a legal sport safer for millions of Americans. Sens. Ted Cruz, of Texas, and John Cornyn, of Texas, are co-sponsoring the legislation, and Rep. Bob Good, R-Va., introduced a companion bill in the House.
If They Can’t Ban Guns, Tax Them
From NRA-ILA:
Joe Biden – ludicrously marketed to Middle America as a “moderate†– plans to ban the manufacture, sale, and possession of a host of popular semiautomatic firearms, including the most popular one of all, the iconic AR-15. For those who already own such guns, Biden would extend an offer that could not be refused, except on pain of federal imprisonment: surrender them to the government for whatever compensation might be offered or pay $200 to register them in a national database. This $200 per unit tax would also apply to each firearm magazine that could hold more than 10 rounds.
So, for example, the owner of a single AR-15 with 5 standard capacity magazines who wanted to keep his or her property would be hit with a $1,200 tax bill. And this doesn’t even take into account any other registration and fingerprinting costs.
Challenge To New Machine Gun Manufacturing
From Cato Institute:
Several years ago, Nick Bronsozian was charged with possession of an unregistered machinegun under a tax law statute. The provision in question, 26 U.S.C. § 5861(d), says that in order to have a machinegun registered, a tax must be paid on it. Simple enough, right? Bronsozian didn’t pay his tax. Case closed. That’s what the government argued anyway, but the situation is more complicated than that.
A subsequently enacted law, 18 U.S.C. § 922(o), prevents the government from registering and accepting tax payments on new machineguns. So Bronsozian was charged and convicted of a felony for not paying a tax that the government would not allow him to pay. If that strikes you as odd, it’s probably because you’ve read the Constitution.
Semi-auto Tax Proposed In CA. Can You Say Poll Tax?
From The Sacramento Bee:
A California lawmaker will push for a new tax on sales of semi-automatic firearms, with the proceeds going to support community violence prevention programs.
“The gun tax will support the kind of interventions that make gun violence less likely in the first place which is exactly what we need to do,†Assemblyman Marc Levine, D-Greenbrae, said in a statement Wednesday.
Seattle Proposes Tax on Guns and Ammo
From Seattle Times:
“Gun violence is very expensive,†Burgess said, noting that the direct medical costs of treating 253 gunshot victims at Seattle’s Harborview Medical Center last year surpassed $17 million, with taxpayers covering more than $12 million of that. “It’s time for the gun industry to help defray those costs and this is a very reasonable way to do it.â€
The tax, imposed on gun sellers, would be $25 on each firearm sold in the city and five cents on each round of ammunition.
 Sales of antique firearms and some other sales could see relief from the tax while individuals selling no more than one gun per quarter would be exempted.
“Violence” Tax for Firearms
From Cheaper Than Dirt Blog:
Cook County Board President, Toni Preckwinkle, recently floated the proposal for a Violence Tax. This new and unwarranted tax seeks to target the sale of guns and ammunition sold in the City of Chicago and its suburbs.