Posted by
BLOGASSAULT on Monday, December 14, 2009 3:51:34 PM
The newspaper said Michigan is expecting $17 million from the taxes, $6 million more than last year's record, which will be coming at a time when the state's departments of natural resources and environmental quality are merging.
That's almost three times the amount of last years numbers, and last year was a record as well. Pretty impressive!
According to the
latest numbers, tax obligations for firearms are up 52% over last year at this time.
According to the most recent Firearms and Ammunition Excise Tax Collection Report, released by the Department of the Treasury, firearm and ammunition manufacturers report excise tax obligations to be more than $122 million in the second calendar quarter of 2009, up 52 percent over the same time period reported in 2008.
This dramatic increase follows a 43 percent increase in excise tax obligations from the previous quarter (1Q, 2009) and 12 straight months of significant increases in FBI background checks – another strong indicator of firearm sales. Excise tax obligations over the last reported 12 months (July 2008 through June 2009) were more than $419.8 million, an increase of $105.9 million (33.7 percent) over the preceding 12–month period (July 2007 through June 2008). The year’s substantial increases in background checks and federal excise tax obligations began just prior to the 2008 elections and flourished despite a worsening economy.
Manufacturers of firearms and ammunition pay a federal excise tax -- a major source of wildlife conservation funding -- on all firearms and ammunition manufactured (11 percent on long guns and ammunition and 10 percent on handguns).
Pretty impressive if you ask me! Here is one area were he could actually count as "jobs created or saved"!