2nd Amendment Tax-Free Weekend and...

[hkennc]

I just visited the Louisiana Department of Revenue website to check if there's a 2nd Amendment Tax Free weekend, this year... There is. September 6th through the 8th. There's also a gun show at Lamar Dixon. How convenient. https://revenue.louisiana.gov/LawsPolicies/RIB 24-014 2024 2nd Amendment Holiday.approved.pdf

But I learned something else. There's also a Gun Safe Tax Credit.

You can purchase a "Firearm Safety Device" and write it off your state income taxes, for up to $500. https://revenue.louisiana.gov/LawsPolicies/RIB 24-009 Firearm Safety Device Credit.pdf

This information may have already been posted but I didn't see it.

 

[thperez1972]

A couple of interesting things I noticed about the safety device credit. If the credit exceeds how much you owe in taxes, the excess credit will be rolled over to the next year for up to 5 years. In other words, you cannot use the credit to get a refund.

The state has $500K in credits to give out on a first come, first served basis. So if 1000 people buy a $500 safe and submit their returns first, the credits are gone for that year.

They list the source of the flyer as RS 47:297.24. In section (A)(3), that statute defines "Firearm safety device" as "a safe, gun safe, gun case, lock box, or other device that is designed to be or can be used to store a firearm and that is designed to be unlocked only by means of a key, a combination, or other similar means." However, the flyer says "The firearm safety device must be listed in La R.S. 47:927.24(A)(3) and purchased from a dealer that is federally licensed to sell firearms, i.e. the dealer must possess a federal firearms license ('FFL')." First of all, that listed statute must be a typo. There is no La R.S. 47:927.24(A)(3). They flipped the 9 and the 2. Secondly, it looks like I cannot order a lockable pelican travel case from Amazon and use that receipt for the credit even though it appears to meet the definition of a firearm safety device.

 

[nolaradio]

I just visited the Louisiana Department of Revenue website to check if there's a 2nd Amendment Tax Free weekend, this year... There is. September 6th through the 8th. There's also a gun show at Lamar Dixon. How convenient. https://revenue.louisiana.gov/LawsPolicies/RIB 24-014 2024 2nd Amendment Holiday.approved.pdf

But I learned something else. There's also a Gun Safe Tax Credit.

You can purchase a "Firearm Safety Device" and write it off your state income taxes, for up to $500. https://revenue.louisiana.gov/LawsPolicies/RIB 24-009 Firearm Safety Device Credit.pdf

This information may have already been posted but I didn't see it.

Thanks for sharing. I noticed there's no dollar amount limit on the tax exemption like in years past.

 

[Bigchillin83]

Thanks for sharing. I noticed there's no dollar amount limit on the tax exemption like in years past.

Right and they also now removed feed, atv, four wheelers, boats, outboards and surface drives ect… I think it’s been like that for a year or so but you used to be able to buy those tax exempt

Also a shame I notice most of the stores mysteriously take stuff off of sale the week of the tax free and mark them back down after

But I guess every little bit off helps

 

[thperez1972]

Right and they also now removed feed, atv, four wheelers, boats, outboards and surface drives ect… I think it’s been like that for a year or so but you used to be able to buy those tax exempt

Also a shame I notice most of the stores mysteriously take stuff off of sale the week of the tax free and mark them back down after

But I guess every little bit off helps

I bought a 4 wheeler from ATV Zone in Roseland a number of years ago during a tax free sale. That saved me a bit of money. But that was 10+ years ago.

 

[Bigchillin83]

Yeah, I think it was about three or four years ago. They might’ve changed that.

 

[nolaradio]

Right and they also now removed feed, atv, four wheelers, boats, outboards and surface drives ect… I think it’s been like that for a year or so but you used to be able to buy those tax exempt

Also a shame I notice most of the stores mysteriously take stuff off of sale the week of the tax free and mark them back down after

But I guess every little bit off helps

I don't think it's as wide spread as you may think.
As a small business owner, I don't see the logic in that. It's not like the taxes collected goes in their pocket. So you're not making up for lost revenue by increasing prices and not collecting sales tax.
In the past, this tax holiday only covered the state's portion of the sales tax, not the local taxes. I purchased a couple of handguns from Interstate Firearms in the past and they covered the local sales tax so that it was totally tax free. I've seen more than one gun shop in the past do the same - with no price increases on their items.

 

[Bigchillin83]

I

I don't think it's as wide spread as you may think.
As a small business owner, I don't see the logic in that. It's not like the taxes collected goes in their pocket. So you're not making up for lost revenue by increasing prices and not collecting sales tax.
In the past, this tax holiday only covered the state's portion of the sales tax, not the local taxes. I purchased a couple of handguns from Interstate Firearms in the past and they covered the local sales tax so that it was totally tax free. I've seen more than one gun shop in the past do the same - with no price increases on their items.

I have had the opposite happen… but to each his own.. I’m glad you made out good with all your experiences… I have had a few do the same and pay the other 1/2 of local tax… and have even had places not allow the tax break during the time period

 

[nolaradio]

I

I have had the opposite happen… but to each his own.. I’m glad you made out good with all your experiences… I have had a few do the same and pay the other 1/2 of local tax… and have even had places not allow the tax break during the time period

Not allowing the tax break is just stupid and I would not spend money at a place that didn't - even if they had an item I've been searching for. Screw them!

I couldn't tell you how many people think that because I collect tax that I'm making more money. I've even had a lady tell me that if I had to collect tax from her, she was going to pay with a credit card instead of cash. Like she was going to punish me by making me pay the card processing fee. Whatever. I added 3.5% to her total to cover the fee.

As a business owner, I get the pleasure of not only collecting the sales tax, but also spending a couple of hours each month to tally up everything and then mail a check to the parish and state for what I collected on their behalf. I get to do that all for free!

 

[hkennc]

First, they have 'renamed' it to 'Second Amendment Tax Free' and not... whatever it used to be. There was one that covered almost anything for prepping for Hurricane Season. Generators and such.
And it's a LDR thing so the parishes can keep charging. Although I've been told that some have suspended theirs as well. I don't know which ones, if any.

 

[hkennc]

Not allowing the tax break is just stupid and I would not spend money at a place that didn't - even if they had an item I've been searching for. Screw them!

I couldn't tell you how many people think that because I collect tax that I'm making more money. I've even had a lady tell me that if I had to collect tax from her, she was going to pay with a credit card instead of cash. Like she was going to punish me by making me pay the card processing fee. Whatever. I added 3.5% to her total to cover the fee.

As a business owner, I get the pleasure of not only collecting the sales tax, but also spending a couple of hours each month to tally up everything and then mail a check to the parish and state for what I collected on their behalf. I get to do that all for free!

I didn't know which 'emoji' to use. I 'laughed' at the part of charging her for the CC use but changed it when reading about all the extra paperwork you have to do.

At least you don't have employees that get tips... Then you'd have to report that too, thanks to Kamala.

 

[nolaradio]

First, they have 'renamed' it to 'Second Amendment Tax Free' and not... whatever it used to be. There was one that covered almost anything for prepping for Hurricane Season. Generators and such.
And it's a LDR thing so the parishes can keep charging. Although I've been told that some have suspended theirs as well. I don't know which ones, if any.

You're getting them confused. There were three tax holidays.
This one has always been called the 2nd Amendment sales tax holiday.
There was one for school supplies and the the other one was for hurricane preparedness.

They went away as part of balancing the budget in 2018. None of our esteemed members of the legislature realized that the holidays were removed as part of the budget. The holidays were suspended until 2025. Wasn't until last year that legislation was passed to reinstate the 2nd Amendment tax holiday for this year.