Assuming you're talking about a US state, I don't think a may-issue license to own a firearm that uses a magazine and keep it at home passes the test established by DC v. Heller and applied to the states by McDonald v. Chicago. Requiring a license is permissible under that standard, but it must be shall-issue.
>I don't think a may-issue license to own a firearm that uses a magazine and keep it at home passes the test established by DC v. Heller and applied to the states by McDonald v. Chicago
I am talking about a US state. I'm hoping they get a SCOTUS smack-down for the reasons you mentioned but I'm not gonna hold my breath.