Myth: I Have to Pay a Yearly Tax

Many times I have been told that NFA ownership is prohibitively expensive because there is a yearly tax. Fortunately, there is no truth to this myth. The tax for NFA firearms is a one time tax paid only upon the transfer of the firearm. The tax was set to be prohibitively expensive in 1934: $200.00. But then again a colt 45 would only set you back $25.00 at the time. Today, a good .45 can easily go over $1,000.00, but the $200.00 tax remains the same.

Once you pay the $200.00 tax you will not owe any more to the government unless you sell the firearm. Thus for those of us who buy and hold, the cost of NFA firearms is not much more expensive than a regular firearm. (I don’t know about you, but I can burn $200.00 in ammo in a day. The tax doesn’t look so bad when put in this perspective.)

Using a NFA Firearms Trust, aka Gun Trust, will not add a yearly expense, filing fees, or additional tax burden. There will be a one time cost of setting up the trust, but the same trust can be used for as many firearms as you like. Plus, the trust will allow you to share the item with trusted family and friends.

All in all, NFA ownership isn’t that expensive, and the use of a silencer can make shooting a real joy even without ear plugs. If you are interested in a NFA firearm, but would like to learn more, feel free to contact me. From Greenville to Greer to Spartanburg, I deal with gun shops all over the Upstate, and if you are outside of the Upstate area in South Carolina I will work with my contacts to find a dealer close to you.