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Posted: 4/6/2006 12:02:58 PM EDT
[#1]
got kneepads????
 +1 I might be looking into this. |
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Posted: 4/6/2006 2:12:46 PM EDT
[#2]
Go to the link below and read the filing procedures. The form is also downloadable. The filing fee is $100 and the annual registration is $30. I sent off the required paperwork and had my LLC set up in about 2-3 weeks.
My first Form1 for an SBR went pending yesterday!! GA Secretary of State |
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Posted: 4/6/2006 4:26:48 PM EDT
[#3]
I followed the link above and had my LLC in seven working days. My first Form1 was approved in thirty days from pending. My second Form1 was approved in three days from pending. My third Form1 was approved the same day it went pending. The longest part of the ATF process was going back and forth between WV and Chicago to get the check cashed. My shortest time from mailbox to mailbox was 21 days.
MadDog 
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Posted: 4/6/2006 7:07:37 PM EDT
[#4]
Thanks fellas, these seems like the way to go.
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Posted: 4/6/2006 10:51:02 PM EDT
[#5]
Is it really that easy? My only concern is the tax crap that comes with it (if any?).
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Posted: 4/7/2006 3:17:24 AM EDT
[#6]
As long as your LLC does not make any money, their is no tax consequence. If you are the only member, you can even deduct the filing fees as a business loss on a 1040 Sch. C. |
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Posted: 4/7/2006 2:39:48 PM EDT
[#7]
Well, fuckin A. It's not like my boss is CLEO here that would make it easy enough. But why do I have to involve him with it. $150 sounds like a good investment to make the forms go faster.
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Posted: 4/7/2006 3:23:39 PM EDT
[#8]
How does buying weapons, like an sbr, as an LLC differ from the normal procedure? What can you purchase? Does your business have to show a need for the weapon, like security or a gun dealer? Interesting possibilities. Thanks
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Posted: 4/7/2006 3:30:51 PM EDT
[#9]
If you go the Corp., LLC, or Trust route, you do not have to get fingerprinted, you don't have to get the CLEO signature, and you don't have to wait on the FBI to do the background check. The LLC can purchase anything that an individual can; MG, SBR, SBS, Silencer, it doesn't matter. You don't have to have a reason or a need beyond expanding your collection. It really is the easiest way to go NFA, especially if your CLEO won't sign off. |
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Posted: 4/7/2006 8:37:59 PM EDT
[#10]
Are you sure about the background check thing???
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Posted: 4/7/2006 9:57:08 PM EDT
[#11]
Can you buy new class 3 weapons or do you have to stick with pre86 transferable stuff? |
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Posted: 4/8/2006 4:07:18 AM EDT
[#12]
Positive. That is what the FBI uses the fingerprint cards for. For the purpose of the NFA, the company is buying the weapon, not the owner of the company. It is up to the company to determine who can poses the weapons. Only people who are legally able to own guns may poses the companies guns. The only possible downside to the Corp or LLC route is; if you decide to give up on it, the C3 stuff must be transferred to an individual. AR-Joe, all SBRs, SBSs. Silencers, and MGs are considered class 3. The company can buy all new class 3 except for MGs. If you want to get the proper licensing and go into business as a C3 dealer then you may be able to purchase new C3 MGs. But for the purpose of collecting, the company can only buy pre 86 transferables. |
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Posted: 4/8/2006 5:31:07 AM EDT
[#13]
Lately, I've been looking into setting up a revocable living trust for NFA purchases. I'm not in a huge rush because I'm broke, but, JKiser gave me some ideas for my 3rd AR (barely started on my 2nd) and I think I'm gonna take his advice.
From everything I've read, so far, the Trust is the way to go. No fee for setting one up and no annual anything to deal with. There's a thread here, in this forum, regarding that very thing with a link to a free form for setting one up. From what I understand, all it requires is the signature of a notary and some witnesses and you're set. ETA: Found the thread |
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Posted: 4/8/2006 5:38:26 AM EDT
[#14]
So what kind of time frame are you fellas with an LLC looking at on returns for you NFA stuff. Just a few weeks for the stamp? I think I may do an SBR now... then a can.. then.... .then the world gentlemen.
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Posted: 4/8/2006 5:43:26 AM EDT
[#15]
I printed off both forms under Limited Liability Companies - I never new it was faster to do a stamp as an LLC. Anything else I should know?
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Posted: 4/8/2006 6:36:24 AM EDT
[#16]
I decided to go the LLC route because of some of the looooong wait times that I had seen, sometimes as long as 8 months. The process as a whole seems to be going much faster since they have moved to WV. My Form1 SBR was mailed on 3/1 and went pending on 4/4. I expect it to be in my mail box in about 10-15 days.
Be sure to check and see if the name you want for your company is taken. Check the name as an LLC and as a Corp. The name I wanted, CCA Enterprises, LLC was rejected because a Corp. had the same name. This caused a delay of about a week in getting my LLC formed. |
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Posted: 4/8/2006 8:30:40 AM EDT
[#17]
Thanks for the advice, I guess if you ever want to give up the LLC you have to pay the 200 again to transfer it to yourself correct?
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Posted: 4/8/2006 8:34:44 AM EDT
[#18]
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Posted: 4/8/2006 4:33:04 PM EDT
[#19]
Thats a shame. The price difference between a new mg and a transferable is crazy. Thanks for the info. |
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