Videos tagged with Firearm Retailer Tax

This video details three new firearm laws enacted in California as of July 1, 2024. It covers AB 1406, which allows for an additional 30-day waiting period on top of the existing 10 days, potentially extending the total to 40 days. AB 1587 mandates the establishment of specific merchant category codes for firearms and ammunition businesses, enabling tracking of purchases. Finally, AB 108 introduces an 11% tax on firearm retailers, which is expected to be passed on to consumers, increasing overall costs.

California Assembly Bill 1223 proposes new taxes on firearm and ammunition sales. The bill aims to extend the CAL VIP granting program and impose an excise tax of $25 on every new firearm sold, which will likely be passed on to consumers. A percentage-based tax on ammunition sales is also proposed, though the exact rate is not yet specified. The speaker urges citizens to contact their representatives to oppose these measures, citing concerns about increased costs and potential pricing out of individuals exercising their Second Amendment rights.