Quoted:
Quoted: What are the laws for a corporation to buy a machine gun?
I own a corporation and would like it to own a machine gun
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only draw back is if you disban the corp then you have to sell the gun or if you pass on, the guns have to be sold or turned in to the feds, theres been talk of a "trust" fund you can assign the weapons to and you can still bypass the CELO, but you guns now can be inherited
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If you disband the corp you do have to sell the guns but that doesn't mean you can't sell them to yourself (if you find yourself with a CLEO willing to sign). If you never get a CLEO willing to sign, then you just don't disband the corp. Its not difficult to keep it current.
Also, if you pass away, you definitely do NOT have to sell them OR surrender them to the feds. Whoever told you that is dead wrong. You can will shares in a corporation to whomever you want, or you can add your children, wife, etc as officers in your corporation long before your death.
When you think about it, having a corp for NFA is quite nice. If they ever ban the transfer of NFA items you can always just sell the corp and its assets (MGs) to another person without filling out a single ATF form.
I would NOT use a corp you already have a regular business to also purchase NFA items. If your real operating corp is ever sued all your NFA toys are assets of the corp and you could lose them. For the $50 the state of MI charges to set up a corp its not really worth the risk IMO.
Transfers are also generally quicker with a corp because you don't need fingerprints, and pictures because a corp is 'faceless'. As a result, your transfer does not go to the FBI for a background check which is usually the longest part of the transfer process.