Just wanted to introduce myself. I couldn't find a specific sub-forum for introductions, hope this is the right place.
I have my first suppressor, an Omega, on order. It's backordered, so haven't even started the form 4 wait yet. A friend and I have a business that is incorporated, and he has several class 3 items that the corporation technically owns. Since I am an officer of the corporation I can also posses those items, and he has leant me his Elite-Irons Bravo suppressor that I have been running on my 300 BLK. It's been so much fun I figured I needed to get one for myself. Since the corporation route has worked so well for him I plan to go the same route. That will also give us the option of allowing him to posses my Omega when I eventually get it. Anyway, I'm still pretty new to suppressors and figured this forum would help me learn more.
New to forum
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- Fulliautomatix
- Silent But Deadly
- Posts: 253
- Joined: Sun Sep 18, 2011 7:46 pm
Re: New to forum
Do you have an actual business that you are going to incorporate, or is it solely for the NFA devices? If the latter, you may want to research a trust instead.
Here's a couple for starters:
viewtopic.php?f=2&t=133090
http://nfatalk.org/forum/showthread.php?t=12219
Here's a couple for starters:
viewtopic.php?f=2&t=133090
http://nfatalk.org/forum/showthread.php?t=12219
Speak softly, and carry a big stick.
Re: New to forum
Yes it is a going business, has been since 1995, and been incorporated almost as long.Fulliautomatix wrote:Do you have an actual business that you are going to incorporate, or is it solely for the NFA devices? If the latter, you may want to research a trust instead.
Here's a couple for starters:
viewtopic.php?f=2&t=133090
http://nfatalk.org/forum/showthread.php?t=12219
Re: New to forum
Also, to make it clear, I will be using the same corporation that my friend used, that already owns NFA items. We are both owners of that business.
- Fulliautomatix
- Silent But Deadly
- Posts: 253
- Joined: Sun Sep 18, 2011 7:46 pm
Re: New to forum
Ah, got it. It sounded like you were going to have a corporation as well. As long as the corporation stays in good standing in your state you should be good to go, and especially if the corp already exists.
Speak softly, and carry a big stick.
Re: New to forum
Welcome to the site.
I think you made a good choice on a first can. Silencerco has a good rep and from what I've seen its a good can at a fair price.
I think you made a good choice on a first can. Silencerco has a good rep and from what I've seen its a good can at a fair price.
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- Member
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Re: New to forum
Welcome to the forum.
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- Silent But Deadly
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Re: New to forum
Just understand that none of the items are yours, they belong to the business and go with it. Partners die/split up, fight over assets. Even if your split best of friends you will have to do a form 4 again pay the tax again, to take possession of your items.
NFA shooters blow their load with only one pull of the trigger.
Re: New to forum
Kinda what I was thinking but wasn't going to say anything and jinx him LOLDavid Hineline wrote:Just understand that none of the items are yours, they belong to the business and go with it. Partners die/split up, fight over assets. Even if your split best of friends you will have to do a form 4 again pay the tax again, to take possession of your items.
If you're planning on many more than just the one NFA item I'd strongly consider a trust of your own, that even your buddy/partner can be a trustee on.
Re: New to forum
Thanks for pointing that out, but I'm not concerned. We have been business partners for 20 years now. The business already own numerous NFA items. We have discussed, and put in writing, what happens to everything in the event of anything happening.