“California Gov. Gavin Newsom signed a law Tuesday that will double the taxes on guns and ammunition, with the new revenue going to safety initiatives.
The federal government collects excise taxes on purchases of firearms and ammunition at either 10% or 11%. The new law adds another 11% excise tax, meaning that Golden State residents can indirectly pay as much as 22%.”
Analyst Comment: This comes after California’s magazine size restrictions were ruled unconstitutional by a federal judge.