Advantage to an in state Transaction

[rybread]

Wednesday this past week day 292 took delivery of two MAC 11/9s.

 

[gun.bro]

You

Wednesday this past week day 292 took delivery of two MAC 11/9s.

That’s good to hear, but I’m still not that optimistic for my situation. Fastest transfer was 5 months only because my paperwork was done thru my dealer and he was going out of business. ATF fast tracked an sbr I had pending to close out his books.. stroke of luck I guess - for me, not my ffl.

 

[EL DUCE]

I need to get off my butt and try to find out when my Thompson will be available to me!

 

[A_Rabid_Buffalo]

Your supposed to pay State tax also

Not sure how many do, but you should

Not in Montana.

 

[ScooterTrash]

What I find odd is that I just sent for and received my Arizona CCW. Requires 2 fingerprint cards and the same background check ATF runs on a Form 4. When you have an Arizona CCW and fill out a 4473 when buying a gun they do not have to call your info in. Just sign and leave. The CCW took 8 days mailbox to mailbox. ATF takes a year. Thoughts?

 

[Battering ram NIB]

maybe its designed to be 9.5 months?

ever think about that?

if they got it down to 2 months again they would just fire 1/2 the staff and bring it back to 9.5 months..

i do believe its 6+ months on purpose

when i first started a few years ago it had just moved from 2 to 4 months and everyone was whining....i got 2 or 3 -4 month transfers...all the rest have been 7-12 months


just be glad its still $200....they could make it $10,000 and kill the hobby

they could tax ammo $50 a box....kill the hobby

they can do so much w/o banning guns to end guns

 

[Z06]

I bought one SMG and sold one MG and one SMG in state person to person. AZ has a close to 10% sales tax WHEN YOU BUY ANY FIREARM FROM ANY GUN STORE but when the transaction does not involve a business there is no sales tax due. Works with cars too. All of this saves BIG $$$$$.

 

[ScottinTexas]

Texas, like most states, only requires Businesses to collect tax.

 

[scottMO]

I have a friend who wants to buy one of my registered MGs. He lives in the same state as I do. I have heard many folks say there are advantages to doing an in state Transaction, but have never figured out what they are. Wouldn’t the weapon need to transfer to an in state SOT (form 3), then to him on a (Form 4)?

Since its instate and on a trust, couldn’t you add him to your trust, he could legally take possession/shoot it, then it later “transfers” on the form 4 when approved???

 

[A&S Conversions]

Since its instate and on a trust, couldn’t you add him to your trust, he could legally take possession/shoot it, then it later “transfers” on the form 4 when approved???

Unless the trust only has the one gun in it, adding someone to the trust could give the buyer practical ownership of everything in the trust.

If there is only the one gun in the trust, then the ownership of the trust could be given to the new owner. At which point there would need to be no Form 4 transfer, just a notification to the NFA Branch of that change of ownership.

Scott

 

[cajun 22]

If there is only the one gun in the trust, then the ownership of the trust could be given to the new owner. At which point there would need to be no Form 4 transfer, just a notification to the NFA Branch of that change of ownership.

I have tried to explain this process to a number of people and they think I'm crazy. But this is the best/fastest way to do it. Only fill out a 5320.20 change of address and you are done.

 

[M10]

If there is only the one gun in the trust, then the ownership of the trust could be given to the new owner. At which point there would need to be no Form 4 transfer, just a notification to the NFA Branch of that change of ownership.

I have tried to explain this process to a number of people and they think I'm crazy. But this is the best/fastest way to do it. Only fill out a 5320.20 change of address and you are done.

That may be the absolute best reason I've heard of to have a trust! Excellent.

 

[A&S Conversions]

If there is only the one gun in the trust, then the ownership of the trust could be given to the new owner. At which point there would need to be no Form 4 transfer, just a notification to the NFA Branch of that change of ownership.

I have tried to explain this process to a number of people and they think I'm crazy. But this is the best/fastest way to do it. Only fill out a 5320.20 change of address and you are done.

It would not be quite that simple as all the members of the trust must have a background check. So I would think that the background check would need to be done so the new member is added before the trust could be moved.

Scott

 

[jkacg1]

It would not be quite that simple as all the members of the trust must have a background check. So I would think that the background check would need to be done so the new member is added before the trust could be moved.

Scott

This is not the case.

 

[A&S Conversions]

This is not the case.

Maybe you could enlighten me, as the trust transfer that we did last year into our trust required background checks and fingerprint cards for every member of the trust. It is also my understanding that the NFA Branch must be notified as to any change in the trust. Certainly a new member would require a background check of the new member of the trust. The whole point of the change in the trust and corporate requirement of background checks for all members was so restricted persons could not acquire NFA items through a trust or corporation. I would not imagine that with the change the NFA Branch would not be okay with adding a restricted person to a NFA trust or corporation.

Scott

 

[jkacg1]

The ATF’s FAQ sections states this with regard to adding responsible persons to an approved Form 4 Trust: (current 41f regs)

Q: Will new responsible persons, added after the making or transfer, be subject to the same requirements?

A: Once an application has been approved, no documentation is required to be submitted to ATF when a new responsible person is added to a trust or legal entity. However, should a responsible person change after the application has been submitted, but before it is approved, the applicant or transferee must contact the NFA Branch for guidance.

 

[A&S Conversions]

I stand corrected. The whole point of the change was to eliminate restricted individuals from owning NFA items, and here is a way they can do it.

Scott

 

[gun.bro]

I believe the catch all for that is if you add another item to the trust, you’ll need finger prints etc for ALL responsible persons in the trust. That includes filling out a form for each person in the trust when doing a new transfer. Correct me if I’m wrong??

 

[A&S Conversions]

But if there is no background check for a change in ownership of the trust then the restricted person gets an unrestricted person to make a trust, transfers a NFA regulated item into the trust, then adds the restricted person to the trust without a background check, and notifies the NFA Branch of the change in address. Of course doing such a thing would be a "straw purchase" and could get both a 10 year prison sentence. It was a restricted person going around the law which caused the inclusion of background checks for all members of the trust in the first place. It dumbfounds me that the Government would leave such a loophole.

Scott

 

[Jmacken37]

Yes. SilencerShop's "single shot trust" accomplishes this nicely. If I was a non-licensee, this is what I'd use for all my NFA stuff. What a beautifully crafted setup! The trust can be sold (and it's possessions) and ammended. I'm surprised more folks aren't using this setup.

The price ($25 for a one time single shot trust and $130 for unlimited single shot trusts) is great, too!

https://www.silencershop.com/services/single-shot-unlimited-gun-trust.html