NJ A1699

Imposes a 2.5% gross receipts tax on retail sales of firearms and a 10% gross receipts tax on retail sales of firearms ammunition in New Jersey

Exempts sales to federal, state, and local government agencies and instrumentalities from the tax

Excludes from taxation sales where firearms or ammunition are delivered outside New Jersey via common carrier, mail, or seller's delivery vehicles

Defines firearms ammunition broadly to include cartridges, shotgun shells, and components such as primers, bullets, casings, propellants, and muzzle-loading materials

Director of the Division of Taxation will collect and administer the tax on a monthly basis, with authority to adopt emergency regulations for up to 360 days