Tax Sales of Firearms in State

Sometimes lawmakers must settle for less simply to get a foot inthe door. So it is, with House Bill 471, which creates the FirearmTax Act in Illinois.

Sponsored by Rep. Barbara Flynn Currie (D-Chicago), thelegislation would impose a tax on all businesses that sell firearms.Proceeds would be allocated to trauma centers.

The bill would change the rate of taxation from $20 to 15percent on the purchase price of handguns and all concealable weaponsrequiring a 72 hour waiting period. It also would tax at 5 percentof the purchase price a rifle, shotgun or other long gun requiring a24-hour waiting period.

The tax would raise …