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September 7, 2005 - Excise Taxes Ended for Gunsmiths |
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Wednesday, 07 September 2005 |
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26 USC 4181 imposed an excise tax on each firearm manufactured or imported into the US. Section 1131 of H.R.3 ended that tax, which was passed onto the consumer, for manufacturers and gunsmiths that produce fewer than 50 firearms per year. This change is tough to find as it is buried in the 'Highway Reauthorization and Excise Tax Simplification Act of 2005'. It was passed July 29 and goes into effect after September 30.
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