From IJReview:

If approved, a $25 tax would be added to all gun sales, along with a 5-cent tax on every cartridge sold. In addition, gun owners would be required to report the loss or theft of firearms within 24 hours.

Critics of the plan, such as Trevor Santos, manager of government relations for the National Shooting Sports Foundation, say it will cause residents to “travel to retailers outside Seattle,” and that it’s just another example of penalizing law-abiding citizens, because criminals don’t acquire their firearms legally.