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NJ S2306
Bill
Status
Introduced
1/25/2024
Primary Sponsor
James Beach
Click for details
AI Summary
- 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 sales where firearms or ammunition are delivered outside the state via common carrier, mail, or seller's vehicles
- Defines firearms ammunition broadly to include cartridges, shotgun shells, and all components such as primers, bullets, casings, powder, and propellants
- Takes effect on the first day of the first calendar quarter beginning at least 30 days after enactment, with the Division of Taxation authorized to implement regulations immediately
Legislative Description
"New Jersey Works Act"; permits businesses to apply for tax credits for establishing approved pre-employment and work readiness training programs in partnership with schools, nonprofit organizations, or educational institutions.
2nd Reading in the Senate
Last Action
Reported from Senate Committee with Amendments, 2nd Reading
10/7/2024
Committee Referrals
Budget and Appropriations3/14/2024
Labor1/25/2024
Full Bill Text
No bill text available