Rev. Rul. 55-175

Advice has been requested whether `barrel actions' as described herein are firearms as defined by the Federal Firearms Act or whether they are considered parts with no records required to be kept nor excise taxes paid.

Section 1(3) of the Federal Firearms Act, 15 U.S.C. 901(3), defines a firearm as any weapon, by whatever name known, which is designed to expel a projectile or projectiles by the action of an explosive and a firearm muffler or firearm silencer, or any part or parts of such weapon. Sections 315.71 and 315.72 of Regulations 131 require manufacturers and dealers to maintain complete and adequate records of all firearms manufactured or sold, including firearms in an unassembled condition, but not including parts of firearms.

It is held that a barrel action comprised of the barrel with front and rear sights; front and rear stock bands; receiver with complete bolt, trigger action, magazine, etc., is a weapon, complete except for the stock, which is capable of expelling a projectile or projectiles by the action of an explosive. Accordingly, component parts when considered as an assembled or unassembled unit, constitute firearms within the purview of section 1(3) of the Federal Firearms Act as distinguished from `parts of firearms' as contemplated by sections 315.71 and 315.72 of Regulations 131. However, the provisions of section 4181 of the Internal Revenue Code of 1954, are not applicable to the sale thereof