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Posted: 10/15/2004 8:06:10 AM EDT
After reading some posts here, a friend and I are considering the formation of an LLC. The intention would be to form a company and then acquire suppressors. However, another part of this is that we are also looking at obtaining an FFL.

Is it possible for our LLC to obtain suppressors (as assets, not with the intent to re-sell them) without getting the NFA Special Occupancy License and paying the $500 annual tax?

Or is the solution to form two LLCs, one that is a FFL holding company, and another that just owns suppressors?

Thanks in advance for the help.
Link Posted: 10/15/2004 10:11:16 PM EDT
Link Posted: 10/16/2004 11:30:50 AM EDT
The LLC will be involved in other things, it won't just be a holding company for suppressors.

What difficulties do you see arising from company ownership as opposed to private ownership? Should the company dissolve, I can see a problem arising (i.e. what happens to the asset?). What other probelms are there?

Link Posted: 10/16/2004 5:48:30 PM EDT
Assets have to be transferred out if the company dissolves. One benefit that most overlook is that you can have several corporate officers. This way your wife, adult children or friends may posess the NFA items out of your presence. Just make sure they are officers and not owners (primarily an issue in the case of friends).
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