Firearms and Ammunition Excise Taxes Up 31 Percent in 4th Quarter
NEWTOWN, Conn. -- According to the most recent Firearms and Ammunition Excise Tax Collection Report, released by the Department of the Treasury, firearm and ammunition manufacturers paid more than $98.1 million in the fourth calendar quarter of 2008, up 31.3% over the same time period reported in 2007.
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).
The report, which covers the time period of October 1, 2008, through December 31, 2008, shows that $27.6 million was collected for pistols and revolvers, $35.0 million for long guns and $35.5 million for ammunition. Compared to the same quarter in 2007, collections were up 70.1% for handguns, 11.4% for long guns and 31.1% for ammunition.
These figures close out the 2008 calendar year. In 2008, a total of $345.2 million was collected in excise taxes, up 13.9% from the $303.2 million collected in calendar year 2007.
These figures are based solely on U.S. civilian sales and do not include sales to military, police and other governmental agencies.