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Legally Armed: V21N1

By Teresa G. Ficaretta, Esq. & Johanna Reeves, Esq.

Fifteenth Annual Import/Export Conference Provides Outstanding Guidance on Regulatory Compliance

The F.A.I.R. Trade Group and National Shooting Sports Foundation (NSSF) put together an outstanding program for the firearms and defense industries at the fifteenth annual Import/Export Conference. The conference was held on August 1-3, in Washington, DC, and was attended by approximately 300 industry members, attorneys, and consultants.

Add-On Sessions Sell Out

Two optional add-on sessions were given this year on August 1, 2016. The sessions, one on the firearms and ammunition excise tax and the other on international sales and marketing and the export process, both sold out several weeks before the date of the conference.

Firearms and Ammunition Excise Tax

The first add-on session was titled “Excise Tax Fundamentals.” Teresa Ficaretta, partner with Reeves & Dola, LLP, and Anthony Gledhill, Chief Counsel with the Alcohol and Tobacco Tax and Trade Bureau (TTB), provided an overview of the Internal Revenue Code provisions governing firearms and ammunition excise tax, implementing regulations, and rulings. A lively group of manufacturers and importers asked questions throughout the session and expressed appreciation that this topic was added to the conference. It has been a number of years since TTB participated in firearms industry conferences, and Mr. Gledhill’s entertaining presentation received positive reviews. He graciously came back for Day two to participate in the Round Table discussions and had standing room only for all four sessions.
International Sales & Marketing and the Export Process

The second add-on session, titled “International Sales & Marketing and the Export Process,” was provided by Kim Pritula of KMP Global Consulting, LLC. With the bulk of the conference focused on regulatory compliance, this presentation provided attendees with information on another important areas of export business specifically targeted to the unique overseas firearms and ammunition markets. Ms. Pritula provided information and guidance on international firearm markets, where and how to obtain market information, and basic marketing plans. The presentation also included hands-on details of the overall export process, structuring the sales transaction, and logistics. The audience included compliance professionals interested in learning the sales side of...

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