The National Shooting Sports Foundation (NSSF) has released the results of the Firearms and Ammunition Excise Tax (FAET) collections report for the 2nd Quarter Calendar Year 2016. The figures cover the period of April 1, 2016 through June 30, 2016.
FAET Obligations Update
Pistols and Revolvers: $69,756,312.99
Firearms (Other)/Long guns: $65,345,209.16
Ammunition (shells & cartridges): $72,348,586.23
These 10 to 11 percent excise tax dollars collected since 1937 under the Pittman-Robertson Federal Aid in Wildlife Restoration Act are specifically designated to be used by state wildlife agencies for conservation. To date, nearly $10.7 Billion has been administered through this successful Act. Collectively, purchasers of firearms and ammunition and hunters are the single-largest source of wildlife conservation funding.
Second Quarter Excise Tax Obligations for 2016 Up 17.6 Percent Over Last Year
The latest Firearms and Ammunition Excise Tax Collection report released by the Department of the Treasury indicates that firearm and ammunition manufacturers reported tax liabilities of $207.5 million in the 2nd calendar quarter of 2016 — up 17.6 percent over the same time period reported in 2015.
The report shows that $69.8 million was due in taxes for Pistols and Revolvers, $65.3 million for Firearms (other)/ Long Guns and $72.3 million for Ammunition (shells and cartridges). Compared to the April to June quarter 2015, tax obligations were up 23.3 percent for Pistols and Revolvers, up 24.4 percent for Firearms (other)/ Long Guns and up 7.6 percent for Ammunition (shells and cartridges).
Translation To Sales
Using the latest tax liabilities reported as an indication of sales, a projection of $1.95 billion was generated for the 2nd Quarter calendar year of 2016.
Pistols and Revolvers: $69,756,312.99 / .10 = $697,563,129.90 = $697.6 million for Pistols and Revolvers
Firearms (Other) / Long guns: $65,345,209.16 / .11 = $594,047,356.00 = $594.0 million for Firearms (other)/Long guns
Ammunition (shells & cartridges): $72,348,586.23 / .11 = $657,714,420.27 = $657.7 million for Ammunition (shells & cartridges)