The tax is for government waste and abuse, like all taxes. It is still being worked on I do not think it's official yet. My understanding is Biden would seek to add many rifles, magazines, and other stuff to the National Firearms Act registry. The NFA is for items like suppressors, short barrel rifles, and other fun toys you have to pay $200 each to own. Possession of an NFA item without the tax stamp can be punished by up to 10 years in prison. This is how they will force people who already bought guns to still pay the tax, retroactively. Otherwise you risk prison if caught with a NFA item missing it's stamp.
When Biden tries to make this happen look for the sky to literally explode with anger, you will know trust me. My guess is more will come out this week.
Can someone give me a quick explanation of what this tax is for and when it become in effect?
The tax is for government waste and abuse, like all taxes. It is still being worked on I do not think it's official yet. My understanding is Biden would seek to add many rifles, magazines, and other stuff to the National Firearms Act registry. The NFA is for items like suppressors, short barrel rifles, and other fun toys you have to pay $200 each to own. Possession of an NFA item without the tax stamp can be punished by up to 10 years in prison. This is how they will force people who already bought guns to still pay the tax, retroactively. Otherwise you risk prison if caught with a NFA item missing it's stamp.
When Biden tries to make this happen look for the sky to literally explode with anger, you will know trust me. My guess is more will come out this week.