Colorado Voters Approve Excise Tax on Their Guns and Ammunition

 Colorado Voters Approve Excise Tax on Their Guns and Ammunition

Just over 54 percent of Colorado voters approved on Tuesday Proposition KK, which contains an excise tax on the in-state sale of guns and ammunition.

CBS News reported that roughly 1.3 million Colorado voters supported the proposition, while 1.1 million opposed it.

The approved tax is 6.5 percent, which means the price of $400 firearm will rise $26 and the price of a $1,000 firearm will increase by $65 because of the new tax.

MSN noted that the passage of Proposition KK makes Colorado the second state to place a tax on the tools of the Second Amendment. California adopted a similar, albeit higher, excise tax that took effect July 1, 2024.

CBS News pointed out that gun rights advocates fought against the tax, arguing that “law-abiding gun owners shouldn’t have to pay more than they already are.” They also noted that the tax will cause Colorado businesses to lose revenue, because many Coloradans will now purchase guns and ammunition out of state to avoid the tax.

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