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Page General » Legal Section
Archived [ARCHIVED THREAD] - GUNSMITHS WIN TAX EXEMPTION
Posted: 8/26/2005 7:22:53 PM EDT
I posted this in the General Forum and didn't get any response.  Do you think that this addition to the tax code exempts a manufacturer from the tax?  Do you think that this also exempts a dealer from putting together parts to make a firearm, therefore, circumventing any tax previously required only of manufacturers?

NRA-ILA Grassroots Alert Vol. 12, No. 34 8/26/05

During the same week the Senate passed S. 397, NRA-ILA helped win an important but less-publicized victory for small custom gunsmiths.  A massive highway construction bill (which President Bush promptly signed into law) contained an amendment that exempts manufacturers of fewer than 50 firearms from "manufacturing" excise taxes.

For nearly 30 years, under a baffling web of IRS regulations, the Bureau of Alcohol, Tobacco and Firearms tried to collect these "manufacturing" taxes from gunsmiths (including years' worth of back taxes, in some cases), even if they were only modifying firearms that had been made in a regular gun factory.

NRA members should salute Senator Max Baucus (D-MT) who has championed this issue for many years, as well as Senate Finance Committee Chairman Chuck Grassley (R-IA), whose support was critical in ending this abuse of the tax system against America's many small gunsmiths.
Link Posted: 8/29/2005 10:07:32 AM EDT
[#1]
I see it letting Joe Schmo custom rifle builder be exempt from paying the excise tax.  Regular large manufacturers will not be affected.
Archived [ARCHIVED THREAD] - GUNSMITHS WIN TAX EXEMPTION
Page General » Legal Section
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