Imposes gross receipts tax on firearms and firearms ammunition.

S 1140 imposes a 2.5% tax on retail sales of firearms and a 10% tax on retail sales of firearms ammunition in New Jersey. It applies to retailers selling these items within the state, excluding sales to federal, state, or local government entities and sales delivered outside New Jersey. The tax is calculated on gross receipts (total sales revenue), not the item's price, and must be reported monthly to the Division of Taxation. The bill takes effect 30 days after enactment, applying to sales starting in the first full calendar quarter following that date.