To view this site you need Adobe Flash Player and your browser must allow javaScripts. Go here to get the latest Flash Player. Firearms Industry Seeks Equity In Tax Code A merica’s leading firearms manufacturers have sent a letter to Sen. Max Baucus (DMont.) seeking his support in rectifying a longstanding inequity in the Internal Revenue Code regarding the firearms and ammunition excise tax (FAET). The tax is used to fund wildlife conservation in America. The remedy being sought would improve conservation efforts through increased industry growth, while bringing fairness and equity to the tax-payment schedule. The manufacturers’ concern is the timing of the tax collection, not the amount of the tax collected (11 percent on long guns and ammunition and 10 percent on handguns). Currently, firearms manufacturers must pay FAET biweekly as opposed to the quarterly taxes paid by other industries that also support conservation. This payment schedule forces many firearms manufacturers to borrow money to ensure on-time payment, and industry members spend thousands of man-hours administering the necessary paperwork to successfully complete the biweekly payments — monies that are due long before manufacturers are paid by their customers. “We have been working hard to change the timing of when the FAET is collected,” said Robert L. Scott, chairman of the board of governors of National Shooting Sports Foundation (NSSF). “By shifting to quarterly payments, like every other industry, many firearms manufacturers would not be forced to borrow money from banks, thus incurring significant financing charges — in essence, a hidden tax.” NSSF estimates that just shifting to a quarterly payment schedule will free up approximately $22 million annually for manufacturers to invest in new plants and equipment, new product designs and increased marketing to encourage greater participation in hunting and the shooting sports. “A financially strong and growing firearms and ammunition industry will generate greater excise tax revenues that are used to fund conservation throughout the United States,” said Lawrence G. Keane, NSSF senior vice president and general counsel. “This shift would help manufacturers remain competitive in an increasingly global economy.” In their letter to Sen. Baucus, the firearm and ammunition executives noted that just since 1991 alone, the industry had contributed over $3 billion to wildlife conservation through excise tax payments. “The fact that our industry has given back so much — over $3 billion in just the last 15 years — demonstrates our industry’s strong commitment to conservation,” Keane said. “As the world’s foremost conservationists, hunters understand — perhaps better than anyone else — the importance of conserving resources and protecting our environment. We remain hopeful that with the help of leaders like Sen. Baucus, our industry will be able to contribute even more to conservation efforts.” Shooting Safety Redefined. Winchester Returns To Original Name Maximum Comfort, High Performance… Hearing Safety Redefined. Howard Leight® knows the specific needs of shooters. The Leightning™ Series offers the best selection of earmuffs from ultraslim to folding styles and moderate to high attenuation hearing protection. All Howard Leight Shooting Safety products deliver sports styling, performance, innovation and comfort at the right price. W inchester has returned to the original name given to the brand nearly 150 years ago by Oliver Winchester: Winchester Repeating Arms. The new-old name will apply to all Winchester-branded sporting firearms. In the mid-20th Century, the company name often was shortened to just “Winchester.” In recent years, reference to Winchester firearms fell under the umbrella brand of Winchester Rifles and Shotguns. With the launch of the 2008 product line, including the new Model 70 and the new Speed Pump shotgun, the company is “returning to its roots.” The Winchester brand is licensed to the makers of Winchester firearms by the Olin Corp. Winchester Repeating Arms and Winchester Ammunition are the anchor brands for the Winchester family of products. Winchester Repeating Arms conducts business under the corporate entity of BACO Inc., and is based in Morgan, Utah. Winchester Ammunition is based in East Alton, Ill. For more information, call (801) 876-3440 or visit www.winchesterguns.com. For more information contact your local distributor or call 866-786-2353. www.HowardLeightShootingSports.com Visit Us At SHOT SHOW SUPER ISSUE 2008 • www.shootingindustry.com Booth #7444 MAGAZINE CIRCLE NO. 233 ON INQUIRY CARD 23