FFL Application question

O

Ognik

Inactive
I'm interested in applying for an FFL. I've read that I should incorporate (LLC) for liability reasons.

Where can I get advice on this? I do searches and only find people wanting to sell me Kits to tell me how to complete the FFL application, which isn't that complicated.

What I want to know is if the FFL should be in my name and my business should be a LLC or if the FFL should be in the Company name.

At this time I don't want to have a B&M business but one from my home primarily selling online and at shows.

Thanks in advance.
Og
 
I suggest investing in a chat with a qualified attorney to discuss the issues as pertain to your state.
 
As much as I hate lawyers, I do agree and I'm in the process of doing that now. I'm curious what people in the business have done or perhaps a link to a forum for gun shop owners.

I live in a small town in PA and I doubt any of the local lawyers have experience with this type of business. But, I'm making phone calls now to find out.

Thank you.
 
If you are going to start a business (FFL) then it is best to get to

know a lawyer to one degree or another....

I suspect that most will tell you that getting 'Inc'd" is the best thing.... I can only relate to you the few negatives of doing so.

First:

Taxes: the tax forms, at least in my state are such that I, a layman, can't figure them out... so, you will most likely need to hire an accountant.

Second:

Liability: Yes, if the corporation is found guilty of wrong doing then the corporation is liable for any damages.... Employees are not usually liable and owners are usually only found liable after the first law suit and the people damaged decide they want more.. then the owners of the corparation and specifically the acting board of directors can be found liable. (Guess who that is? And guess what? Your lawyer(s) get to charge you twice.)

then again, in theory to be liable for something you have to do something wrong in the first place.... simple thing is don't do something wrong... but then that's not how the legal world works these days.
 
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