User Panel
User Panel
User Panel
|
Posted: 3/25/2022 9:22:03 PM EDT
[#1]
I'm pretty sure it's paid by manufactures/importers
|
|
|
|
Posted: 3/25/2022 9:23:06 PM EDT
[#2]
Falls on the importer. You as a FFL won't have to worry about it if you're reselling goodies sourced from a distributor/importer. It'll be baked into the cost of the product you're purchasing.
|
|
|
|
Posted: 3/25/2022 9:33:37 PM EDT
[#3]
Thank you!
|
|
|
|
Posted: 3/26/2022 7:56:37 AM EDT
[#4]
Quoted: Running the books, taking State & Local Sales Tax into consideration really kills the margin but oh well. When putting together my margin I can across Firearms and Ammunition Excise Tax (FAET). Do FFLs have to pay this or is it covered by those that are importers/ distributors? |
|
|
|
Posted: 3/26/2022 10:01:20 AM EDT
[#5]
FYI, putting an AR upper on an AR lower is manufacturing which requires FAET.
|
|
|
|
Posted: 3/26/2022 10:47:13 AM EDT
[#6]
Quote HistoryQuoted: FYI, putting an AR upper on an AR lower is manufacturing which requires FAET. If you're doing it as gunsmithing, for an owner, then it doesn't count as manufacturing (even if you just sold them the complete upper). If you (the FFL) own it, and you're doing it to enhance the firearm before selling it, then yes it counts, but there's an exemption for manufacturing less than 50 firearms annually. (Once you hit 50, taxes are due on all of them.) Turning a customer's existing Title I firearm into an AOW or SBR on Form 2 counts as manufacturing as well. |
|
|
|
Posted: 3/26/2022 10:59:20 AM EDT
[#7]
Quote HistoryQuoted: <snip> Turning a customer's existing Title I firearm into an AOW or SBR on Form 2 counts as manufacturing as well. However, NFA firearms are exempt from FAET. |
|
|
|
Posted: 3/26/2022 4:48:18 PM EDT
[#8]
Quote HistoryQuoted: However, NFA firearms are exempt from FAET. So they don't count towards the 50, right? |
|
|
|
Posted: 3/26/2022 6:41:29 PM EDT
[#9]
Quote HistoryQuoted: Good catch. So they don't count towards the 50, right? |
|
|
|
Posted: 3/26/2022 7:48:37 PM EDT
[#10]
Quote HistoryQuoted: Good catch. So they don't count towards the 50, right? They do. Make 49 Title I, no FAET due. Make 49 Title II and 2 Title I, FAET due on the 2 Title I guns. |
|
|
|
Posted: 3/26/2022 7:49:57 PM EDT
[#11]
Thanks Bubbles.
|
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
