GUN LLC

Discussion in 'On Topic' started by spankaveli, Sep 27, 2008.

  1. spankaveli

    spankaveli OT Supporter

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    I did an LLC the other day for my website.

    I can has a can? :o

    This will make me want to SBR one of my AKs now. :squint:

    That's all. I wasn't even thinking about the whole class 3 thing when I did it. :rofl:
     
  2. sp00n155

    sp00n155 You underestimate the insignificance of my penis OT Supporter

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    fill out paperwork, send away 200 dollars, then wait about forever and a day.
     
  3. spankaveli

    spankaveli OT Supporter

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  4. [DWI]

    [DWI] Master of Nothing

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    From what little I know about that route for the NFA, I would make a separate trust for the weapons, no taxes, no fees (at least in some states), no cost to create or maintain (again in some states.) Some states have no required maintenance to trust so it will never lapse. Plus then the website is independent of the weapons, if something were to happen to the company ect the weapons would still be secure. Plus if the website venture goes belly up you either have to keep paying to keep the LLC up or pay a transfer tax to yourself or a trust.

    I'm not sure how the two work differently about relocating across state line and the like. I've just been doing a little digging on the side myself.
     
  5. spankaveli

    spankaveli OT Supporter

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    Trust has lawyer fees, at the very least. It's alot different here than other states. Napoleanic code ftl. :o

    LLC here is only $75 to set up and $25/yr.

    I don't mind paying $25/yr to not have to go through the fiasco of cleo/pictures/prints/etc every time I want to buy something NFA. :dunno:
     
  6. [DWI]

    [DWI] Master of Nothing

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    Sounds like you've done your research. As long as you keep the company up and even if the website is no more don't mind the tax returns rather than just including the trust in your personal taxes.

    One thing to think of from what I have read is other's that might have access to the firearms (wife/husband and kids included) for them to have access to them (maybe even know the combination to the safe or where the key is) they need to be included in the corporation/trust for it to be legal. At least that is what I get from a quick glance at the laws so far.
     
  7. spankaveli

    spankaveli OT Supporter

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    Afaik, I can go to the secretary of state's office (same place I did the llc) and make whomever I want a member of the corporation.

    Obviously I have some more thinking and planning to do and I don't even know if I'll do it but it was just something that popped up. :o
     
  8. [DWI]

    [DWI] Master of Nothing

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    yes you can appoint them members of the corporation. I was just pointing it out as something to think about. Especially if the website is a business venture separate from people who you might want to have access to the firearms.

    Just one of the things I've been thinking about recently, I thought I would share. After all ti was something I came across by accident that I would have thought about otherwise.
     
    Last edited: Sep 27, 2008
  9. spankaveli

    spankaveli OT Supporter

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    It's not. It's just a forum. You bring up some good points though.

    I may think about doing another LLC for other stuff, class 3 included.
     
  10. [DWI]

    [DWI] Master of Nothing

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    Just trying to share what little knowledge I have gained, I'm not arguing one way or another, just pointing out some of the things I have thought about myself.
     
  11. spankaveli

    spankaveli OT Supporter

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    It's always nice to hear things from a different point of view. You never know what you might have overlooked. :cool:
     
  12. hsmith

    hsmith OT Supporter

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    I will be going the LLC route for my class 3, I was going to do trust buy I have a few people I want to have access to the firearms
     

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