§ 179.32 - Special (occupational) tax rates.

(a) Prior to January 1, 1988, the special (occupational) tax rates were as follows:

Per year or fraction thereofClass 1—Importer of firearms$500Class 2—Manufacturer of firearms500Class 3—Dealer in firearms200Class 4—Importer only of weapons classified as “any other weapon”25Class 5—Manufacturer only of weapons classified as “any other weapon”25Class 6—Dealer only in weapons classified as “any other weapon”10

(b) Except as provided in § 179.32a, the special (occupational) tax rates effective January 1, 1988, are as follows:

Per year or fraction thereofClass 1—Importer of firearms (including an importer only of weapons classified as “any other weapon”)$1,000Class 2—Manufacturer of firearms (including a manufacturer only of weapons classified as “any other weapon”)1,000Class 3—Dealer in firearms (including a dealer only of weapons classified as “any other weapon”)500

(c) A taxpayer who was engaged in a business on January 1, 1988, for which a special (occupational) tax was paid for a taxable period which began before January 1, 1988, and included that date, shall pay an increased special tax for the period January 1, 1988, through June 30, 1988. The increased tax shall not exceed one-half the excess (if any) of (1) the rate of special tax in effect on January 1, 1988, over (2) the rate of such tax in effect on December 31, 1987. The increased special tax shall be paid on or before April 1, 1988.