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Friday, August 26, 2016

Enjoy Tax-Free Gun Purchases In Two More States—For A Limited Time

If you live in Mississippi or Louisiana, Happy “Second Amendment Weekend!” Customers buying guns in both states will get a break on sales tax over the next two weekends.

In the Magnolia State, from Aug. 26-28, purchasers of firearms, ammunition or hunting gear will be excluded from the state’s 7 percent sales tax. Likewise, Louisiana’s 5 percent sales tax won’t be added to non-commercial firearm purchases Sept. 2-4. The federal government imposes excise taxes on all gun and ammunition purchases, but these two states are taking a step towards joining five others where gun sales are always free from state sales taxes—Alaska, Delaware, Montana, New Hampshire and Oregon.

This year gun sales have skyrocketed, as the FBI processed a record number of background checks month-over-month. What’s more, several firearm manufactures are also reporting unprecedented numbers—for instance, Sturm Ruger & Co. shows a 19-percent sales jump in just its second-quarter.