Bud's is open in Sevierville

[Ugly]

9.25% is extreme. I don't understand why we have such a high sales tax rate. That's higher than when I lived in CA, Philly, MD, pretty much it is higher than anywhere I've ever lived.

It is a deal breaker for big purchases, fer sure!

[Erik88]

9.25% is extreme. I don't understand why we have such a high sales tax rate. That's higher than when I lived in CA, Philly, MD, pretty much it is higher than anywhere I've ever lived.

It is a deal breaker for big purchases, fer sure!

 

I'm sure the fact that TN doesn't have a state income tax(except for some investments I think) has something to do with this.

 

FL doesn't have a state income tax and our sales tax is only 6.5%. They get us with these damn toll roads though. I spend around $45/month in tolls here in Orlando. 

[Sam1]

Yeah Erik, is correct, no state income tax.  Coming from KY where I paid a 5.8% state income tax @ $60k per year, I completely lost over $3100 per year and got zero back...  well, normally I would have to pay $30 to file my state taxes, then it would sometimes get me between a $20-40 refund.  This is on top of the state sales tax which is 6%.

 

Higher sales tax and no state income tax is awesome here in TN because it is essentially a system of consumption taxes only.  The state income tax is just money you lose, the more money you make, the more you lose. 

 

To put it in perspective, using the TN sales tax of 9.25%, I would have to buy an additional $103,000 worth of taxed stuff every year just to negate the state income tax costs from KY.

[Wingshooter]

I'm fortunate that the new store is not too far from me. I'm in sevierville on occasion anyway. Stinks for you guys living on the other side of the state. Ultimately, the tax will increase the final price, but the plus side is it will make it easier to get the cash price. Whenever I bought from Buds, I always ended up using a credit card because it was easier. I'm assuming they will still offer layaway at the store too

[Wingshooter]

Yeah Erik, is correct, no state income tax. Coming from KY where I paid a 5.8% state income tax @ $60k per year, I completely lost over $3100 per year and got zero back... well, normally I would have to pay $30 to file my state taxes, then it would sometimes get me between a $20-40 refund. This is on top of the state sales tax which is 6%.

Higher sales tax and no state income tax is awesome here in TN because it is essentially a system of consumption taxes only. The state income tax is just money you lose, the more money you make, the more you lose.

To put it in perspective, using the TN sales tax of 9.25%, I would have to buy an additional $103,000 worth of taxed stuff every year just to negate the state income tax costs from KY.

Same here. I had the same exact gross income when I moved from KY to TN, but my net income was like getting a big raise in TN. I like our system here compared to other states I've lived (OH, MD, FL, NC, KY) Edited July 27, 2014 by Batman

[Joe357]

Has anyone talked to them about possibly becoming a sponsor here, since they are now local?

[luvmyberetta]

I'm fortunate that the new store is not too far from me. I'm in sevierville on occasion anyway. Stinks for you guys living on the other side of the state. Ultimately, the tax will increase the final price, but the plus side is it will make it easier to get the cash price. Whenever I bought from Buds, I always ended up using a credit card because it was easier. I'm assuming they will still offer layaway at the store too

 

Getting the cash price is easy. I always used my CC to hold my order & then mailed a MO to get the cash discount. The last time I ordered a handgun from Bud's, I mailed my MO on a Tuesday & had my pistol in hand at my FFL on Thursday. I actually had my gun less than 12 hours after Bud's got my payment. That's fast service. I live about 90 miles from Sevierville (2 hours) & 129 miles from Lexington (2 hrs. 45 minutes). I live in the middle of nowhere & am used to having to make long drives for everything so 90 miles isn't a big deal + SMKW is next door & one of the largest flea markets in the country is a five minute drive. That has the makings of a fun weekend. :up:

[luvmyberetta]

I purchased a pair of rifles from them a month or two back, knowing it would likely be my last purchase from them. Having to pay tax on top of ffl transfer or gas money to get there and back is a deal killer. If they were located centrally at least most TN residents could afford to make the drive, but being on an extreme corner of the wide state means that most TN residents will be hurt more than helped by this move. Sad day for me, I used to give them a lot of money, probably got 40-50 guns from them over the past few years.

 

I think part of the reason for the location is because of Bud's relationship with SMKW. Bud's has mentioned in their videos that they're the only retail store in the country besides SMKW to actually have a SMKW knife display. Plus, at more than 9 million visitors a year, the Smoky Mountains is the most visited national park in the world. Bud's probably couldn't have picked a better location.

[Sam1]

Still not a fan of it no matter what, it'll cost more now!  :rofl:

Edited July 27, 2014 by Sam1

[Ugly]

I'm sure the fact that TN doesn't have a state income tax(except for some investments I think) has something to do with this.

 

FL doesn't have a state income tax and our sales tax is only 6.5%. They get us with these damn toll roads though. I spend around $45/month in tolls here in Orlando. 

They're gonna take our money any way they can, I've lived ion FL for 10 years and only time I paid a toll here was going to orlando airport. Screw that area!

9.25% to 9.75% is too high in my book. I agree with consumption taxes but I think this is too high. If it causes me to do business elsewhere, ho many more people do the same thing. We should be competitive, as with any tax the lower it is, the more transactions there will be. Since the state charges 7% and communities add up to 2.75% more I'd like to see the state lower their tax to 5%. 7.25% is still high but it is more competitive and tolerable. 

 

Not that it matters, I'm just waisting words here. Lets talk about guns!

[Oh Shoot]

...Plus, at more than 9 million visitors a year, the Smoky Mountains is the most visited national park in the world. Bud's probably couldn't have picked a better location.

 

Only TN residents can take possession of handguns directly there though. Also of course, various restriction with long guns and mags for folks of some states.

 

- OS

[Dolomite_supafly]

Everyone talking about not having to pay taxes on purchases from outside of the state are wrong. You ARE required to pay tax on purchases from outside of the state at the same rate as our state sales tax. It is required by law but it is self regulated.

[Lumber_Jack]

[quote name="Oh Shoot" post="1172570" timestamp="1406480923"]Only TN residents can take possession of handguns directly there though. Also of course, various restriction with long guns and mags for folks of some states. - OS[/quote] I still think their main drive for location was butts through the door.

[luvmyberetta]

I still think their main drive for location was butts through the door.

 

+1...plus a lot of their profit comes from selling ammo, gear, HCP courses, & the shooting range. Bud's great LEO & military support will get lots of local attention too.

[Oh Shoot]

I still think their main drive for location was butts through the door.

 

Oh, no doubt. The majority of folks coming in will at least be able to walk out with a long gun of some kind or other.

 

I don't even know how FFLs handle all the various limitations regarding contiguous state purchase only, "assault weapons",  and hicap mags for folks from some other states and etc.

 

- OS

[Fivestring63]

I was in there the other day. A couple things they didn't have were pipe cleaners and the long q-tips for cleaning. Maybe once they get settled in a little they'll stock more stuff. Oh and I wish they had more holsters.

[Sam1]

Oh, no doubt. The majority of folks coming in will at least be able to walk out with a long gun of some kind or other.

 

I don't even know how FFLs handle all the various limitations regarding contiguous state purchase only, "assault weapons",  and hicap mags for folks from some other states and etc.

 

- OS

 

I don't think it would be on the FFL to worry about that, because the buyer could be leaving it at a relative's house, or second house in a different state etc..

[Oh Shoot]

I don't think it would be on the FFL to worry about that, because the buyer could be leaving it at a relative's house, or second house in a different state etc..

 

Well, from ATF:

 

"a licensee may sell a rifle or shotgun to a person who is not a resident of the State where the licensee's business premises is located in an over-the-counter transaction, provided the transaction complies with State law in the State where the licensee is located and in the State where the purchaser resides."

 

- OS

[Sam1]

oh heck didn't know that

[musicman]

Just so happens I'm going to Pigeon Forge this weekend.  I'm going to call tomorrow to see if they have a JM930 10 shot and 10MM EAA Witness Pro in stock at the Sevierville location.  They both show in stock online, but I don't know to which location that is referring.  I'd love to be able to get them both in one swoop!

[wileecoyote]

There have been several threads about BUDS with most of them devolving into a great debate about taxes and the differences between SALES and USE tax. Of course everyone in TN is SUPPOSED to report all out-of-state or online purchases and pay the USE tax, but the state will be the first to tell you that very few people actually do this. So regardless of whether you believe in paying USE taxes, you can't argue with the fact that BUDS TN customers will be FORCED to pay more by converting the USE tax self-reporting obligation into a mandatory SALES tax collection at point of sale. Since we already know that most TN residents do not self-report or pay the USE tax, the fact still remains that most TN residents will now pay a lot more for any items purchased from BUDS in the future.

 

This really bothers me, as I have given BUDS a ton of business in the past, so I created a simple spreadsheet to calculate and compare the true cost of doing business with BUDS in 3 different modes: online before the TN location, online after the TN location, and in person at the TN location. I included all of the actual costs that I would have to pay to make it a fair comparison, including dealer transfer fees, TICS, and gas for travel. The data shows that for a single purchase of a $1000 gun, a BUDS TN customer will now have to pay an average of 10-11% more (roughly $100 more in this case) than they would have paid before BUDS opened the TN location. Of course the numbers change a little based on your proximity to BUDS and your local dealer fees, as well as how much or little you purchase from BUDS, as well as what the profit margin is on the items you purchase from BUDS, but the spreadsheet should be pretty close to reality for most folks.

 

So in my case I am unwilling to pay 11% more for each gun, as I will just purchase from a different low-price online out-of-state dealer in the future. And if I can't find a better price, I would still rather pay a little higher cost to a local dealer that is closer to my home before I drive 360 miles (6 hours) roundtrip to BUDS in TN, which would cost me a lot more than the data shown in the spreadsheet that assumes 120 miles roundtrip for a local BUDS TN customer.

 

So no matter how you slice it, the new BUDS location is a bad deal for TN residents, unless you live very close to the new location and you don't mind paying 10-11% more, or you only go there for the shooting range or other special sales which cut the cost to at least 10-11% below their normal profit margin to offset the new tax. See attached image for the raw numbers and decide for yourself.

 

Edited July 27, 2014 by wileecoyote

[runco]

If I buy from Buds in KY, and they ship fro KY, do I have to pay TN taxes to them in the check out process, and if so, what is your evidence?  Everyone assuming we do, have I missed something?  I am citing the Amazon model?  Not every purchase from Amazon gets charged TN sales tax, so why would I get charged by Buds!

[wileecoyote]

If I buy from Buds in KY, and they ship fro KY, do I have to pay TN taxes to them in the check out process, and if so, what is your evidence?  Everyone assuming we do, have I missed something?  I am citing the Amazon model?  Not every purchase from Amazon gets charged TN sales tax, so why would I get charged by Buds!

The only Amazon purchases that are not taxed are when the actual seller of the item is located in a different state than you. Many Amazon items are sold by a third party vendor and only shipped or facilitated by Amazon, so no TN tax applies. But whenever the item is actually sold by Amazon then you pay the tax, regardless of which warehouse they ship it from. I have no idea if BUDS is charging the TN tax on their website yet, but if not then they are breaking the law and will likely fix that very soon. So the only time I could see a TN resident not paying tax to BUDS is if BUDS sells items on consignment where they are not the seller in any way,

[Wingshooter]

If I buy from Buds in KY, and they ship fro KY, do I have to pay TN taxes to them in the check out process, and if so, what is your evidence?  Everyone assuming we do, have I missed something?  I am citing the Amazon model?  Not every purchase from Amazon gets charged TN sales tax, so why would I get charged by Buds!

I guess I'll just have to order that Kahr PM9 or Winchester 70 SS Extreme Weather that I've had my eyes on to test it out ;) That's what I'll tell my wife... "It's just a test" :)

[A.J. Holst]

Yes, we are paying more due to tax but using the same sales price as compared to online Bud's is making less due to the expense of employees and rent for brick and mortar.

I prefer in person vs online shopping and they are 20-25 minutes from my house so this is a good deal for me.

Bud's is also creating jobs in TN as well.