How about info on getting a class 3? licence

[mjbskwim]

We are about 2 hrs away from any dealer ,here in Salmon. I'm not sure where the closest 1 in Idaho is but the guy in Montana said it is a pain to transfer across state line.
So ,mostly just for transfers,how big of problem is it to get this license?
Would it be cost prohibitive unless I was buying a few for myself?
I'm guessing I need a FFL first.

Thanks
Mike

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[SCARed]

IIRC, you need to be a standard FFL, not a C&R FFL, and operate for at least 1 yr, then pay the big money for the SOT.

 

[BDA.45]

We are about 2 hrs away from any dealer ,here in Salmon. I'm not sure where the closest 1 in Idaho is but the guy in Montana said it is a pain to transfer across state line.
So ,mostly just for transfers,how big of problem is it to get this license?
Would it be cost prohibitive unless I was buying a few for myself?
I'm guessing I need a FFL first.

Thanks
Mike

SALMON....My whole family is from Salmon....

 

[MrNatural]

In general . . .

1. First get a class 01 FFL. That will take the great majority of your efforts.

2. Then pay your Class 3 fee (aka SOT-Special Occupation Taxpayer-fee) of $500 per year. Due July 1 and good for the following 12 months. It is a flat fee is not prorated no matter when you pay it.

The Class 3 fee is an annual tax/fee, not a license, as opposed the the FFL which is an actual license. Once your SOT check clears the bank you are authorized to engage in the Class 3 biz.

If you can justify the once-every-three year FFL fee and the $500 annual SOT fee then the economics work.

HOWEVER: being competent in the paperwork and legal end of being a dealer is the difficult part. Lots to learn. Lots of places to make mistakes. If you don't have someone to mentor you through the first year or two, I would hesitate to take the plunge. Forgiveness and an easy-going nature are NOT part of the ATF corporate culture!

 

[mjbskwim]

In general . . .

1. First get a class 01 FFL. That will take the great majority of your efforts.

2. Then pay your Class 3 fee (aka SOT-Special Occupation Taxpayer-fee) of $500 per year. Due July 1 and good for the following 12 months. It is a flat fee is not prorated no matter when you pay it.

The Class 3 fee is an annual tax/fee, not a license, as opposed the the FFL which is an actual license. Once your SOT check clears the bank you are authorized to engage in the Class 3 biz.

If you can justify the once-every-three year FFL fee and the $500 annual SOT fee then the economics work.

HOWEVER: being competent in the paperwork and legal end of being a dealer is the difficult part. Lots to learn. Lots of places to make mistakes. If you don't have someone to mentor you through the first year or two, I would hesitate to take the plunge. Forgiveness and an easy-going nature are NOT part of the ATF corporate culture!

OUCH $500 a year could be a lot of suppressors to sell. I surely won't make up the difference in my own purchases.
First I'll have to see what the market is up here. Maybe 2hrs ain't so bad?

 

[PDXSparky]

OUCH $500 a year could be a lot of suppressors to sell. I surely won't make up the difference in my own purchases.
First I'll have to see what the market is up here. Maybe 2hrs ain't so bad?

I can't speak for most 03 FFL dealers, but the guy I usually deal with does all the paperwork with you via email or snail mail. The only time I need to see him is when the physical transfer takes place. So, a one time 2 hour drive would be considerably cheaper than getting your own FFL.

 

[mjbskwim]

This isn't thee most affluent neighborhood in Idaho,so I don't really believe that I would sell very much. But at around $42 a month,might not be too hard to recover.
A friend with a few cans said the mark up is fairly high .My overhead would be nill as I would use the shop I have, Of course ,have to ask city hall about neighborhood business'
Thanks for the responses
Mike

 

[Just Jim]

Most of the guys that get going in a class three fade out because of the great length of time it takes to do the transfers. Customers just don't want to wait and business is few and far between. An FFL helps keep an income going if the economy is decent. It is a feast or famine lic to have.

 

[Who The F R U]

If you go 07/02:
* ffl every 3 years $150
* SOT 02 every year $500
* ITAR # every year $2250
* FET on all guns after 49 made and disposed of in commerce in a year 11% of sale price
(50 items out the door to non 07's mfg's is the bend over #)
*FET on ALL ammo made no matter how many rounds 11%
* Business licenses, city and state
* Sales tax


And the all impending doom of an audit Papers what papers?

Just kidding audits aren't as bad as people make them out to be, as long as you do you books like you should, Or at least try to.


++ ATF will not issue you a FFL if you are trying to enhance your personal collection.

 

[mjbskwim]

Well I think owning a store would,could be a blast,but I do like being an employee better.
I've asked around and not many people seem to care much about NFA. Or they aren't talking about it.
The guys at 1 shop don't even know where the closest dealer is,lol. Not spending money and time for nada
Thanks for the responses and info
Mike

 

[Who The F R U]

Diving into the deep end is scary that's why most people don't.

If you do good and are successful YOU did that.
If you FAIL it's your fault/failure.

All you can do is try and if you go tit's up. Well figure out what you did wrong and start over at the bottom again and claw your way back up.

It will put your head in a different place when you are in control win or loose.

All I can say is I started out with 4 of my fingers 90% de-articulated from a lathe accident.(CUT OFF)
I was looking at never being able to work as a smith again.

I spent ALL of my money (Under 3k) designing and making the Glock kits, I didn't even have rent money and it was the 23rd of the month.


6 years latter and every Tard is copying or using OUR Full Auto Glock kits on YouTube for there videos.
Even Kyle and his dead cousin (FPS use our stuff in there video's)

It's worth the risk, you just have to have the balls to try. Win or loose.