The most recent Firearms and Ammunition Excise Tax Collection (FAET) report released in late April indicates that firearm and ammunition manufacturers reported tax liabilities of $213.5 million in the fourth calendar quarter of 2013, which reflects a 22 percent increase over the same time period reported in 2012.
The 2013 annual FAET collections (January 1–December 31) totaled $863,696,528, making it the highest year on record to date, surpassing the previous record 2012 FAET of $643,915,884 by an impressive 34.1 percent.
Excise taxes on firearms and ammo sales collected under the 1937 Federal Aid in Wildlife Restoration Act (also known as Pittman-Robertson) are paid quarterly by firearms and ammunition manufacturers, and earmarked for state wildlife conservation and habitat restoration, hunter education, shooting ranges and other programs. The 10-percent tax paid on sales of pistols and revolvers, and 11 percent paid on long guns and ammunition, is the most accurate barometer of the sector's performance. Since 2000, Pittman-Robertson has generated more than $3 billion.
The report released by the U.S. Department of the Treasury last week, covering October 1, 2013 through December 31, 2013, indicates that $57.4 million was due in taxes for pistols and revolvers, $67.1 million for firearms (other)/long guns and, $89 million for ammunition (shells and cartridges). Compared to the October-December quarter 2012, tax obligations were up 11.8 percent for pistols and revolvers, up 0.6 percent for firearms/long guns, and up 56.3 percent for ammunition.