To view this site you need Adobe Flash Player and your browser must allow javaScripts. Go here to get the latest Flash Player. Industry Industry news Industry Targets Excise Tax Reform Don’t Neglect “Lesser Sellers” — pg. 18 T he NSSF is continuing its efforts to change the way firearm and ammunition manufacturers pay FAET, a federal excise tax — a change that could save companies $22 million annually. In May, NSSF announced its support of legislation in the U.S. Senate (S. 632) and House of Representatives (HR 510) to correct the longstanding inequity in the frequency with which manufacturers pay the Firearms and Ammunition Excise Tax (FAET). Currently, firearm and ammunition manufacturers must pay the FAET biweekly. Companies in other industries pay the tax quarterly. “Singling out the firearms industry for tax payments every two weeks is bureaucratic and discriminatory,” said Sen. Mike Crapo (R-Idaho). Sen. Max Baucus (D-Mont.) said of the “ proposed change, “This is the right thing to do. It will help cut bureaucratic red tape and help the firearm industry save resources. This will ensure the gun industry is treated fairly.” Singling out the firearms industry for tax payments every two weeks is bureaucratic and discriminatory. According to NSSF, the biweekly payment schedule forces many manufacturers to borrow money to ensure on-time payment. Plus, companies spend thousands of extra man-hours handling the morefrequent paperwork. NSSF notes that the legislation would not lower the amount of excise taxes companies pay. ” Changing the frequency of the tax payments, NSSF notes, would free up approximately $22 million annually for manufacturers. “Shifting to quarterly payments would allow manufacturers to invest in new equipment and product designs, and enhance their marketing efforts. This, in turn, could lead to greater participation in hunting and the shooting sports, something that would benefit everyone,” said Steve Sanetti, NSSF president. In 2008, firearm and ammunition manufacturers paid $345.2 million in excise taxes, up 13.9 percent from 2007. NSSF is urging everyone to contact their Congressional representatives to encourage them to cosponsor this important legislation. Visit www.nssf.org and click on “Legislative Action Center.” Beretta Announces First-Quarter Results SIG SAUER Secures $306 Million Contract I n May, Beretta U.S.A. Corp. announced its first-quarter results. “We are extremely pleased by our commercial pistol market sales. First-quarter sales were up 66 percent compared to last year. All of our pistol families are performing very well, and we are trying to keep up with the increasing market demand,” said Gary Ramey, VP of sales and marketing. According to the company, U.S. production of the model 92FS is sold out for the year, and Beretta USA has begun importing 92FS pistols from its sister company in Italy to support its sales effort. Px4 Storm series pistols and their optional extended magazines continue to be extremely popular, officials say. “Px4 pistol shipments are up 245 percent compared to last year, and we are still receiving orders,” said Gabriele de Plano, VP of tactical marketing. For additional information, visit www.berettausa.com. IG SAUER has secured a multi-year contract to provide pistols to the U.S. Army’s Material Command. Company officials report the potential value for all ® quantities and the related customer support package is $306 million. The initial order of 55,890 units is to be released as the standard sidearm for the Colombian National Police force. Shipments are to begin immediately, with a second release of 42,000 pistols to follow. Ron Cohen, president and CEO, said the contract provides an opportunity for SIG SAUER to continue to expand its manufacturing facilities and create U.S. jobs at a time when other companies are downsizing and exporting jobs overseas. Visit www.sigsauer.com for more information. S $4.6 Billion Hunting, firearms top list See page 12 Number of background checks See page 28 9.1 Million 54% vs. 39% Support for stricter gun laws See page 106 Subscribe to SI Digital: 8 JULY 2009 www.shootingindustry.com. Read SI DIGITAL It’s Free! www.shootingindustry.com