New Jersey S1140 imposes a gross receipts tax on retail sales of firearms and ammunition within the state.
New Jersey S1140 imposes a tax on retail sales of firearms and ammunition within the state. The tax rate is 2.5 percent of gross receipts from firearms sales and 10 percent from ammunition sales. Sales to federal, state, or local government agencies are exempt. The tax takes effect immediately upon enactment and applies to sales starting at least 30 days after the bill's enactment. The Director of the Division of Taxation in the Department of the Treasury collects and administers the tax.
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