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“Huge Economic Boost” – New West Virginian Law Makes Gun And Ammo Purchases Tax-Free

Courtesy of ZeroHedge View original post here.

 

West Virginian lawmakers have eliminated the sales tax on all small firearms and ammunition and are also offering weapon manufacturers tax credits in hopes of sparking an economic boom, according to local news WOWK

"If you are going to buy that $2,000 riffle, it's going to be $120 cheaper here in West Virginia than compared to our neighboring states," said Delegate Gary Howell, (R) District 56.

The law was passed in House Bill 2499, which went into effect on July 1. Customers can purchase handguns, shotguns, rifles, and whatever their heart desires (chambered up to .50 caliber) without sales tax. 

The state hopes to get in on the action of record gun sales and millions of first-time gun owners sparked by the virus pandemic and social unrest of 2020. With millions of new guns owners, parts and ammo will be needed, and West Virginia plans to capitalize on that.  

WOWK's Audra Laskey calls the new law a "huge economic boost" for the state. 

"It's definitely going to spike gun sales for the foreseeable future. Then after that, I think it will steadily increase in terms of your mid and high-range arms. So, I think over the long term that it will defiantly be a boost in business," said Taylor Collins, gun and ammo salesman for Bridgeport.

The law also promotes tax credits to gun and ammo manufacturers: 

"If they do a $1 million piece of equipment, we will tax it as if it's a $50,000 piece of equipment. That's to encourage investment in the state," said Delegate Howell.

Already, one bullet manufacturer, Ranger Scientific, recently announced it would be building an ammo plant in the state because of the new law. The new plant will provide 400 jobs to residents in Montgomery. 

"It makes West Virginia the single best place to locate arms or ammunition manufacturing plant," said Delegate Howell.

If you build it, they will come – and it appears the tax law could spark an exodus of gun manufacturers from other states to West Virginia.

According to Noah Davis of sanctuarycounties.com, West Virginia is a huge Second Amendment state sanctuary state. 

The Biden administration is losing the war on guns as more than 61% of American counties are now Second Amendment sanctuaries

West Virginia could see a considerable boost in ammo sales as prices have come down, and no sales tax will make the cost per round even cheaper.


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