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Repealing Firearm Transfer Tax

This act eliminates the federal tax on firearm transfers, meaning citizens will no longer pay this fee when acquiring or transferring certain types of firearms. This change could affect the costs associated with firearm ownership, potentially lowering them for individuals involved in such transactions.
Key points
Eliminates the federal tax on firearm transfers, potentially reducing costs for acquiring or transferring certain firearms.
The changes apply to transfers made after the act's enactment date.
The act does not alter the oversight of firearms by the U.S. Consumer Product Safety Commission.
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Additional Information
Print number: 118_HR_790
Sponsor: Rep. Hinson, Ashley [R-IA-2]
Process start date: 2023-02-02