Conservation efforts benefit from 31 percent jump in excise taxes
Sales remain strong for manufacturers
Firearm and ammunition manufacturers paid more than $98 million in excise taxes in the fourth quarter of 2008, up 31.2 percent over the same period in 2007, according to figures released earlier today by the U.S. Department of the Treasury.
From Oct. 1 to Dec. 31, $27.6 million was collected for pistols and revolvers, $35 million for long guns and $35.5 million for ammunition. Compared to the same period in 2007, collections were up 70.1 percent for handguns, 11.4 percent for long guns and 31.1 percent for ammunition.
Excise tax collections are a key economic indicator for the industry. The taxes are calculated as a percentage of wholesale receipts, paid quarterly by firearm and ammunition manufacturers, and earmarked for state wildlife conservation and habitat restoration programs.
A total of $345.2 million was collected in excise taxes in 2008, up 13.9 percent from the $303.2 million collected the previous year. These statistics are based solely on U.S. civilian sales and do not include sales to military, police, etc.