[shindy]

Does anyone know how to become a dealer in fully automatic guns ie. 50 cal, thompson machine guns etc. Am in the process of buying out several hundred guns that a dealer had that passed away and his estate is selling everything outright. Will need to sell off most to recoup investment. Deal is not done but figured i better start finding out how to deal with it. Thanks

 

[nmckenzie]

Step 1: Be absolutely certain each NFA firearm is properly registered. Step 2: Contact ATF, inform them of your intentions, and begin the Class 3 Dealer application process. Step 3: Sit back and wait for the wheels of bureaucracy to turn.

 

[shindy]

Thank you,
Also does each firearm need a stamp,or as a dealer you can clear all at once. There will be close to 30 fully auto guns if I get the lot.

 

[Alpo]

Each gun needs paper.

 

[RJay]

I only have one question of which I am curious, How are you going to legally take procession of them? Having gotten rid of all of my ATFE firearms years ago, I am no longer up to date on all the changes but I was under the impression that in a case such as this, you had to be authorized ( Tax Stamps ) before you could take procession. Has that changed?

 

[medalguy]

Apply for FFL class 1 license, then pay an annual Special Occupational Tax of $500, plus meet all local and state regulations calling for any permits or licenses. Then, AFTER you receive your FFL and tax stamp FOR THE LICENSE, you start the transfer process to transfer each individual firearm to you. There will be a $200 tax on each and every firearm transferred from a private individual or estate to you, the dealer.

Once you have the approved transfers back from BATFE, you may take possession of the firearms. At that point you can advertise them, sell them, or trade them. If you sell to a private individual, there is another $200 transfer tax stamp required for each firearm. Those transfers go on a Form 4. If you transfer them to another SOT dealer, whether in your state or another state, there is no tax due on those transfers. Those go on a Form 3. These days, typical transfer approval times are running 4-6 months for each transfer. Good luck.

 

[shindy]

Thanks for all the info.
My deal fell thru, the guy tripled the price on me, so I had to say never mind.
The price of all guns seems to be going thru the roof so I will settle with the ones I already have, just don't have a Thompson that I really wanted.

 

[mkbrmb]

Too bad. I would like to own a Colt 1921 Thompson, but the prices are through the roof. Better luck next time.