DATE CREATED: January 9, 2024
LAST ACTION DATE: 01/09/2024
LAST AMENDMENT DATE: 12/28/2023
PROGRESS: In Committee
BILL ID: S1140
CATEGORIES: Justice
REGION: NJ
This bill imposes on a person making retail sales of firearms or ammunition in this State: a 2.5 percent tax on gross receipts from retail sales of firearms, and a 10 percent tax on gross receipts from retail sales of firearms ammunition. Sales to agencies of federal, State, or local government are exempt from the taxes imposed by the bill. The bill defines "firearms" as any weapons that expel a projectile with potentially lethal force via the action of an explosive or other form of combustion, which weapons are capable of being transported and fired by a person. "Firearms ammunition" is defined as self-contained cartridges or shotgun shells and their components sold for use in loading firearms ammunition, including, but not limited to, primers, bullets, shot, slugs, missiles or other projectiles, casings, shells and hulls, black powder, smokeless powder and other propellants, and other products incorporated in firearms cartridges and shells or used in muzzle loads, such as wads and sealants. The bill takes effect upon enactment and applies to gross receipts from sales made beginning on or after the first day of the first calendar quarter beginning at least 30 days after the date of enactment.
SESSION: 2024-2025 Regular Session
VERSIONS: 1
LAST ACTION: Introduced in the Senate, Referred to Senate Law and Public Safety Committee
ACTIONS: 1
SPONSORS: John McKeon (D)*
KEYWORDS: Calendar Quarter Beginning, Parcel Post Directed, Potentially Lethal Force, Sales Made Beginning, Loading Firearms Ammunition, Tax Imposed Pursuant, Firearms Ammunition, Gross Receipts, Local Government, Retail Sales
POWERED BY
