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Owning a fully automatic rifle?
H.S. 10-X
Member Posts: 1,360 ✭✭✭✭✭
I've heard that you only need a Class III liscense to sell full autos. You only need to buy a tax stamp to own one. Is this the truth? Can anyone clarify?
Comments
Well, what the difference between the firearm that requires the $200 (National Firearms Act) tax and the one that only requires the $5 (Any Other Weapons)tax?
$195 difference [;)].
The AOW classification is a sort of catch all for guns which really don't fit any category: Pen Guns, handguns which have a forward grip (which makes them outside the definition of a pistol), stockless shotguns with barrels under 18" which were not made by modifying an existing shotgun; you need to start with a bare receiver or left the factory without a butt stock (a pistol grip shotgun) and a host of other odd ball guns.
quote:Originally posted by H.S. 10-X
Well, what the difference between the firearm that requires the $200 (National Firearms Act) tax and the one that only requires the $5 (Any Other Weapons)tax?
$195 difference [;)].
Rim shot!!!
[:D]
quote:Originally posted by H.S. 10-X
Well, what the difference between the firearm that requires the $200 (National Firearms Act) tax and the one that only requires the $5 (Any Other Weapons)tax?
Seriously, go to your local gunshop and they can tell you all you need to know.
Ask your questions here. A gun shop will want to sell you something, but I don't want your money.
Let's just say, for example, I wanted to buy full auto Tommy gun for $2500. With the tax it would be $2700. Then I would own it free and clear without having to pay any additional yearly taxes. Correct?
Yes 200.00 one time fee and as long as the thompson was previously registered and you were lucky to find it for under 15 grand
Here is a basic FAQ I did just for this reason, http://forums.gunbroker.com/topic.asp?TOPIC_ID=365687
If you have more questions feel free to ask.
Let's just say, for example, I wanted to buy full auto Tommy gun for $2500. With the tax it would be $2700. Then I would own it free and clear without having to pay any additional yearly taxes. Correct?
If you find the above, in red, I'll take a truck load!!![:D]
Correct. The National Firearms Tax of $200 is a one time tax and unless your state has a special annual tax (fee, license, permit, ect.) on these types of weapons you won't be taxed again. When you kick-off, your family can inherit your registered NFA items without having to pay the tax again. You'll never find a Thompson for $2500 so you'd better start getting set for disappointment.
Do you happen to know where the best place is to find out which states might have a special annual tax?
Let's just say, for example, I wanted to buy full auto Tommy gun for $2500. With the tax it would be $2700. Then I would own it free and clear without having to pay any additional yearly taxes. Correct?
You will have to pay the tax only once. The firearm is price driven by the market. Since there's a limited number of machineguns out there, you may expect to pay upwards of $20,000 (or more) for the firearm you've mentioned. Joe
I don't want to steal this post, but it opened an opportunity for me. i am seriously considering purchasing a full auto Thompson. I understand about the 200.00 tax and the paperwork. There lies my question. Looking at the paperwork on the BATFE website, I see one of the statements I have to make(on that portion to be signed by the local head of law enforcement) is why I want to own this gun. The reason I want it is because I've always wanted one, but how do I say that to satisfy the local police chief?
I didn't know you had to have the head of law enforcement sign anything.
quote:Originally posted by H.S. 10-X
Let's just say, for example, I wanted to buy full auto Tommy gun for $2500. With the tax it would be $2700. Then I would own it free and clear without having to pay any additional yearly taxes. Correct?
You will have to pay the tax only once. The firearm is price driven by the market. Since there's a limited number of machineguns out there, you may expect to pay upwards of $20,000 (or more) for the firearm you've mentioned. Joe
$2500 or $25000. All I wanted to know about was the tax. The price of the firearm was theoretical.
Because The Supreme Court declared for the first time last summer that the Second Amendment protects an individual's right to self-defense and gun ownership.
"A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms shall not be infringed."
The Second Amendment to the Constitution
What other reason do you need to tell the "Chief" ?
quote:Originally posted by oldnbald
I don't want to steal this post, but it opened an opportunity for me. i am seriously considering purchasing a full auto Thompson. I understand about the 200.00 tax and the paperwork. There lies my question. Looking at the paperwork on the BATFE website, I see one of the statements I have to make(on that portion to be signed by the local head of law enforcement) is why I want to own this gun. The reason I want it is because I've always wanted one, but how do I say that to satisfy the local police chief?
To sell National Firearms Act weapons (which include machine guns) you need a Type 01 FFL and you need to pay a Special Occupational Tax. There are three classes of the SOT Tax (before 1988 there were 6) and the one that allows for dealing in National Firearms Act weapons is Class 3 (hence the common term Class 3 license) and costs $500 per year on top of the usual Type 01 FFL fees.If someone obtains a Type 01 and pays their SOT, what happens to any inventory (particularly Class 3 'dealer sample' firearms) they accumulate after they die or if they simply allow their FFL to lapse?