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Q1-Federal Excise Tax Report |
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GUN, AMMO SALES UP 9.7% IN FIRST QUARTER
· . . . Sales by firearm and ammunition manufacturers were up 9.7 percent in the first quarter of 2008, led by a 17.3 percent increase in ammunition sales, a 5 percent rise in handgun sales and a 6.7 percent increase in long gun sales, according to the firearm industry's best economic indicator. The statistics are taken from the latest Pittman-Robertson federal excise tax collection report. Excise 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. These statistics are based solely on U.S. civilian sales and do not include sales to military, police, etc. During the quarter, $76.8 million was generated for conservation through excise tax collections, compared to $70.1 million in the same period in 2007. From January through March, $19.9 million was collected for pistols and revolvers, $30.3 million for long guns and $26.4 million for ammunition. The latest tax collections suggest overall sales of $716.4 million, not including retail markup or final retail sales. |
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