How does a manufacturer, producer or importer determine eligibility under the new 50 gun exemption?
A. A manufacturer, importer or producer qualifies for this exemption based on the number of firearms manufactured, produced and imported on a calendar year basis (January 1-December 31). For example, if Company “A” manufactures 20 firearms in Year 1 then it is exempt from FAET on all firearms it manufactures and sells in Year 1. However, if Company “A” manufactures 55 firearms in Year 2 then it is subject to FAET on all firearms sold in Year 2.
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