NFA Checks Explode 167% as $0 Tax Stamps Reshape the Market

Summary

NFA checks (Form 1 and Form 4) exploded to 209,023 in February 2026, a 167% increase over February 2025, attributed to the $0 NFA tax stamp that became effective January 1, 2026. Separately, NSSF-adjusted NICS background checks for February 2026 totaled 1,265,320, marking a modest 3.5% year-over-year increase, indicating a steady, albeit flat over the long term, overall firearms market.