Posted: 1/30/2016 10:15:23 AM EDT
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I have a few lowers on the workbench and was thinking about an SBR. How tough or involved is it to get approval? Does it require CLEO sign off? Getting a suppressor was a bitch several years ago. |
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Quoted:
Get your Shell Corporation set up today, just to make Obama mad. 
While Corporations are a viable mechanism to purchase/access NFA 'stuff', they bring there own series of potential issues, especially compared to a Trust. Primarily, corporations - especially 'shell' corporations - are rarely 'evergreen'. There is always some fee, report, or some BS that has to be paid or filed periodically or the corp can be unilaterally suspended/inactivated/unincorporated. Trusts are typically one-and-done arrangements with only minor changes over time to reflect property being transferred to/from trust ownership or beneficiary changes. Another is that the laws related to corporations are nowhere near as stable as laws related to Trusts. Example: according to my attorney, my state hasn't made any material changes to Trust laws in decades while laws related to corporations get changed about every 10-minutes when the legislature is in session. Also, as Trust laws change there is typically a 'grandfather' provision where Trusts in effect at the time the new laws go into effect will still be functioning under the previous laws unless and until they are materially changed (Corporations are typically only 'grandfathered' until their new filing deadline or renewal date). Not saying "Don't do it!" via a corporation, just be sure you understand the maintenance a corporation requires compared to a Trust. All that said, I am creating a LLC as a basis for the FFL/SOT I will be applying for once the floodgates are opened by our Village Idiot's 'executive guidance'. Yet, any purchases I make will be via one of the purpose-specific Trusts I am a trustee/beneficiary of. MikeN |
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In the past I've heard Morgan and Madison county were ok for CLEO sign-offs. Not sure about Limestone (my guess was you were at Morgan).
When I went to do my SBR I shopped around for a lawyer that did NFA trusts in HSV, and everything from there was a breeze. Even with the potential rule change coming up I still like having the trust so family can handle the items unattended without angst. |
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Arsenal attorneys was where I got mine a few years back. Nothing wrong going with individual or a trust. You can put your wife or other relative on a NFA trust that you want to have possession of the NFA items in the trust. The only downside with doing that is the 41p ruling which goes into effect July 13th. Once 41p goes into effect for the trust you would need to fingerprint and photo everyone that is a "responsible person" on the trust when adding an item. Basically the same as you have to do for an individual. The CLEO signature has been turned into a notification process and no CLEO signature is required on both individual or trust. Of course all of that goes into effect on July 13th. Before that a trust is your best option because you do not have to do anything but send the forms (or eforms) in and pay.
The process is easy once you know the ropes. Its getting started that can be the tough part. I suggest you find someone who has done the process before and have them walk you through it step by step. A few of the class II and class III guys that are local are normally very helpful. Bill from Stewart Solutions has always been very helpful for me. Plus you can have your suppressor transferred through him too, if you decide on getting a can 
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