grimtale

FFL/SOT Pre May questions

Location:

4 posts in this topic

Looking to obtain my FFL & SOT for the purpose of selling some title 1 guns and obtaining some pre-may samples as keepers.

My question is should I register my FFL/SOT as a sole proprietorship so if I ever drop my SOT, they would be in my name?

Most people tell you its best to register your FFL in a LLC but what about in my scenario?  Most of my other NFA items are in a gun trust, assuming you can't use it in this case in any way?

Thanks

Mark

Share this post


Link to post
Share on other sites

Mark, 

You may want to talk with a firearms industry attorney re LLC pros and cons.  LLC rules also can vary by state.  I used Prince Law Group in PA when I started up and they were great.

And of course, the purpose of a FFL/SOT is to operate a business.

Good Luck!

Ben

 

1 person likes this

Share this post


Link to post
Share on other sites

GOOD ADVICE FROM BEN! its best to get all the legals from one  trained to do so.  from what I see in the past when it comes to inventory when the lic expires it remains the property of the primary lic holder and any "pre may samples" would be his to hold no matter how the lic is titled.


I only accept postal money orders. contact me DIRECTLY before sending any funds                                           email  myoldiron@outlook.com        

Share this post


Link to post
Share on other sites

Thanks all.  Was just curious.  Primary goal is selling title 1 guns as part of a retirement business, the pre-samples were an added bonus.

Mark

1 person likes this

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now