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Accountancy Slice
North America
California Gov. Gavin Newsom has signed a law that will double taxes on guns and ammunition. The projected $159m in additional annual tax revenue will be used to enhance security at public schools and fund violence prevention programs. California becomes the only state with its own tax on guns and ammunition. Mr. Newsom, known for his support of gun restrictions, is leading a national campaign to amend the U.S. Constitution for stricter gun control measures. The law also now includes a ban on carrying guns in public places and requires microstamping technology on semiautomatic pistols. More than two dozen "sensitive places" that are off limits to firearms, including child care centers and schools. The California Rifle and Pistol Association plans to challenge the tax in court.
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