By Michael J. Bologna | BloombergTax.com
Colorado is hot on the heels of California with its excise tax on firearms and ammunition. Litigation from gun owners and Second Amendment rights groups may not be far behind.
The 6.5% tax Colorado voters approved on firearms and ammunition sellers won’t take effect until April 1, 2025, but constitutional scholars and attorneys on the front lines of Second Amendment litigation expect at least one lawsuit in the coming months.
California’s 11% excise tax was challenged just weeks after Gov. Gavin Newsom (D) signed the legislation last year.