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| Class III (NFA) Firearms and Accessories Discussion of Class III topics such as: Suppressors, Short BBL rifles, Any Other Weapons, etc. |
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09-08-2009, 12:10 PM
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#1 (permalink) |
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TGO Member
Joined: Jun 2009
Where: North of Nashville, TN
Posts: 202
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Free Can
A buddy of mine had purchased a can under a trust while living in Miami. The can's still in Miami. Trust was to a corporation that he says is dissolved. Can he sell or gift the can. He would gift to me if possible. Being totally new to NFA toys, I need the feedback of an expert or two. Can a deal be done, or is there something preventing the legal transfer of this item to me? Could it be held at a Class III dealer while the tax stam is being waited for?
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"To preserve liberty, it is essential that the whole body of the people always possess arms, and be taught alike, especially when young, how to use them." - Richard Henry Lee |
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09-08-2009, 02:05 PM
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#2 (permalink) |
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Moderator
 Moderator Joined: Feb 2009
Where: Franklin, TN
Age: 31
Posts: 1,881
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My understanding is that as long as he own's it (and not the corporation), he can give/sell it as long as the proper paperwork is completed (Form 4), etc.
AS far as being held at a Class III dealer, I think he can just hold on to it until you get your stamp, then a transfer would be completed at the proper FFL.
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"Mark it 8 Dude..." Moderator: Handguns Forum |
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09-08-2009, 05:03 PM
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#3 (permalink) |
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TGO Freshman
Joined: Dec 2008
Where: ETN
Posts: 33
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It will cost you two stamps ($400 total) since it is out of state. One stamp to transfer to a dealer, one stamp to transfer it to you. No way to avoid paying the transfer tax since it is out of state (especially if the trust is in FL).
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09-08-2009, 05:24 PM
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#4 (permalink) | |
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TGO Member
Joined: Jun 2009
Where: North of Nashville, TN
Posts: 202
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Quote:
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"To preserve liberty, it is essential that the whole body of the people always possess arms, and be taught alike, especially when young, how to use them." - Richard Henry Lee |
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09-08-2009, 05:55 PM
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#5 (permalink) |
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TGO Senior Member
Joined: Feb 2009
Where: Whites Creek, TN
Age: 38
Posts: 566
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I dont know for sure I would call the ATF but I think that he can transfer to a dealer similure to the manufacture does on what ever form they use then ship to the dealer once that form comes back then the dealer holds it until your form 4 comes back.
Even if you have to pay the stamp 2 times it is still cheaper to pay that then 5-1200 for the can and still have to pay for the stamp. Most cases you will also have to pay the dealer a transfer fee. For me Guns and Leather in Greenbriar was cheaper than anybody else I found. $50 for a can. Most of the other places I called were $100. I did not get a price from Outpost as they were not Class II dealers at the time. Dealers normally dont charge that if you buy a can that they have in stock.
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Bitterly clinging to my guns, my bible, and my Constitution Proud Member of: Army Aviation Association of America National Rifle Association Gun Owners of America Tennessee Firearms Association |
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09-08-2009, 06:03 PM
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#6 (permalink) |
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TGO Member
Joined: Aug 2009
Where: CHATTANOOGA, TN
Age: 35
Posts: 322
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just a question? what is a can? please don't laugh just trying to understand subject matter...
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if one shows mercy to the guilty, they would equally show credulity to the innocent. |
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09-08-2009, 06:16 PM
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#7 (permalink) | |
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American
Joined: Sep 2007
Where: Oak Ridge
Age: 25
Posts: 4,518
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Quote:
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The United States Constitution (c)1791. All Rights Reserved. Welcome to Tennessee, patron state of shootin' stuff. Definition of a Veteran: A veteran - whether active duty, reserve, national guard or retired - is someone who, at one point in their life, wrote a blank check made payable to "The United States of America", for an amount of "up to and including my life." - That is Honor, and there are way too many people in this country who no longer understand it. |
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09-08-2009, 07:22 PM
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#8 (permalink) |
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Moderator
Moderator
Joined: Aug 2007
Where: White House, TN
Age: 22
Posts: 833
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If an individual has the suppressor in any other state besides the one you live in, you will have to pay 2 transfers. One will be from the individual to a Class III dealer here in TN, then the second will be from the dealer to you. A form 3 is a tax free transfer from dealer to dealer. Also if you live in the same state as the person you are buying a MG, SBR, SBS, AOW, or suppressor then the item can stay with the seller until the buyer gets his form 4 back from BATFE.
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Moderator: Class III (NFA) Firearms and Accessories Be polite. Be professional. But have a plan to kill everyone you meet. |
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09-10-2009, 07:31 PM
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#9 (permalink) |
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TGO Member
Joined: Jan 2008
Where: Memphis
Age: 39
Posts: 374
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Hotshot, a can is slang for a silencer which some people call suppressors, which is technically more correct terminology since they suppress the sound of shooting, not silence it.
However, Hiram Maxim, who invented this wonderful contraption, called it a SILENCER, and by God thats good enough for me. |
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10-16-2009, 11:54 PM
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#10 (permalink) |
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TGO Freshman
Joined: Jul 2009
Where: Jacksonville, FL
Age: 44
Posts: 23
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cost and legality
You will need two stamps. Not sure if you are stating that it is owned by corporation or trust but even if the corporation has it you can still transfer it within a reasonable time.Under Florida law, the officer of a dissolved corporation is able to wind up the business of the corporation within a reasonable time period. Depending on how long the corporation has been dissolved will determine if the can is still legal or not. One problem is that he is not legal to be in possession, but he can send it to a class 3 transfer agent in your state ($200), and you can fill out a form 4 ($200) to receive it from them. Many Class 3 SOT's often charge a small admin fee for this service.
QUOTE=Plunky;358288]It will cost you two stamps ($400 total) since it is out of state. One stamp to transfer to a dealer, one stamp to transfer it to you. No way to avoid paying the transfer tax since it is out of state (especially if the trust is in FL).[/QUOTE]
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David Goldman, Attorney GunTrustLawyer.com NRA Life Member Last edited by Gun Trust Lawyer, David G; 10-22-2009 at 12:29 PM.. |
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