2 weeks Ago By Alvarado Gamez
Colorado would create an excise tax on firearms and ammunition if voters approve Proposition KK in Tuesday’s election. Primarily aimed to help crime victim services, school safety programs and mental health support for veterans and youth, results will be expected after polls close at 7 p.m.
on Tuesday. The measure would add a 6.5% excise tax on guns, firearm parts and ammunition sold in Colorado.
Dealers and manufacturers would be responsible for paying the tax, though the cost would likely be passed on to consumers. ELECTION RESULTS: Live Colorado election results for the 2024 election Prop. KK includes exemptions from the tax for dealers with annual sales of less than $20,000, private sales between individuals, and retail sales to law enforcement officers and agencies as well as active-duty members of the military.
The bill to refer the measure to voters, House Bill 1349 , passed the legislature with only Democratic votes, along with a few Democrats voting in opposition. The tax would raise an estimated $39 million a year, with $30 million tagged for services for crime victims. Because it would change state law, the measure needs a simple majority to pass.
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