The Gun Safe Tax Credit Bill Explained: How to Claim up to $300
At Richmond Security, we take gun safety seriously. That’s why we’re supporting Virginia’s new gun safe tax credit by offering a discount to make it easier than ever to afford high-quality storage to secure and protect your firearm.
LOCK IT DOWN: A BETTER DEAL ON GUN SAFETY
Virginia has stepped up its gun safety game with a new tax credit that rewards gun owners who purchase gun safes or lockable storage devices for their firearms. The tax credit is widely seen as a common-sense way to keep guns out of the hands of both children and criminals by making good quality secure storage more affordable for firearm owners.
Keep reading to discover how the new tax credit works and how to apply for it. We’ll also look at how local suppliers like Richmond Security are stepping up to support the move with high-quality equipment and additional discounts for responsible gun owners.
WHAT IS THE GUN SAFE TAX CREDIT?
Virginia governor Glenn Youngkin recently signed into law a bipartisan bill providing a tax credit of up to $300 to anyone who buys a gun safe or lockable gun container. The new law aims to make it easier for Virginians to purchase secure storage equipment that will help to keep guns out of the wrong hands.
HOW DOES IT WORK?
The new law, known as HB 2387, allows you to apply for a credit on your Virginia state income tax bill if you bought one or more qualifying firearm safety devices, including both gun safes and lockable storage containers, in the previous tax year. Taxpayers are allowed only one gun safe credit in each taxable year. The bill comes into effect in July 2023.
Virginia has allocated $500 million to fund the tax credits, which lawmakers said would be distributed on a “first come, first serve” basis.
HOW AND WHEN DO I CLAIM IT?
You can claim the credit when you complete your tax return, starting in the 2024 tax season, which covers purchases in 2023. The credit is also non-refundable, meaning that it can only be applied to offset the cost of your total tax bill, not paid out as cash.
HOW THE GUN SAFE TAX CREDIT BENEFITS YOU
The gun safe tax credit provides a great incentive for local gun owners to buy or upgrade gun storage equipment. It’s particularly valuable because not all safes are created equal, and making quality equipment more affordable can make a big difference.
For example, many big box stores or local suppliers now offer safes and other storage devices at very low prices. While these products often offer a wide range of features, the lower prices generally indicate the use of lighter metals, thinner materials, and less insulation.
By assisting gun owners who are interested in securing their weapons properly, the tax credit makes it possible for them to afford better-quality equipment that works better to protect and secure a weapon when it really counts.
WHY BUY FROM RICHMOND SECURITY?
Richmond Security has been selling all safe types, including gun safes since we first opened our doors in 1976. There are many great reasons to make us your first choice for your gun safe needs.
BETTER EQUIPMENT
We only stock high-quality, professional strength safes that meet the highest standards. Richmond Security is a gold-level dealer for American Security Product (AMSEC) safes, widely considered a top-tier, high-quality safe in the industry. There’s no room to compromise on quality when safety is at stake.
EXPERT ADVICE
If you’re ready to upgrade your firearm storage, stop by our showroom and speak to our safe experts, who can help ensure you are selecting the best safe to meet your needs. Our top priority is to supply the highest-quality gun safes. We also offer industry-leading warranties on many of our products.
WE MOVE YOU
Good quality safes aren’t light. Richmond Security has the right equipment, specially designed to deliver your safe into your home, upstairs, or downstairs, if needed. We will anchor your safe, instruct you on its proper operation, and should you need more information or instruction, we are a phone call away.
In the future, should your safe need service, or require a move to another location, we are the professionals for the job.
20% DISCOUNT ON GUN SAFE SALES
Richmond Security is backing our equipment to make quality gun protection affordable with a 20% discount on all our gun safe products. Put that together with the new gun safe tax credit and you could save more than $500 on many of our most popular products.
Talk to us today about the best deal for your budget and safe storage needs.
CHOOSE SAFETY. CHOOSE RICHMOND SECURITY
Richmond Security has provided safes and other critical security products in Central Virginia for over 40 years. We offer the highest-quality equipment delivered, installed, and maintained with our trademark standout service.
We offer the finest gun safes from leading manufacturers, including:
- Gun, fire, depository, commercial, and residential safes
- Fire protection warranties
- Multiple interior configurations
- 30 and 120-minute fire protection
- UL-certified burglary protection
- Solid plate steel doors
- Electronic keypads
- A variety of exterior finishes
With the best products, expert advice, professional moving services, and a generous discount to complement Virginia’s new gun safe tax credit, Richmond Security has got your firearm protection needs covered. Click below to learn more about your great lineup of quality affordable gun safes and other secure storage products.