FFL application question

D

DeadEra

Inactive
Hello all, been lurking in the shadows as a visitor for a while. Please forgive me if this question or similar has been asked, I did numerous searches both through Google, and a few forums and haven't found exactly what I am looking for.


I have been getting my ducks in a row to become a dealer. Im going to run it out of the house for a little while, but the goal is to move the business to a free standing location around the corner from me with more inventory etc. So, I have the LLC formed, Tax ID, and EIN number. I sat down last night to start filling out the ATF application and had a question from the starting line.

-The LLC is set up with "managing members." My wife is listed on the paperwork as a managing member with as much sway in the business as I do. The initial goal was that I will be the only one selling the guns, and she will be handling the accessories, ammunition, accounting paperwork as needed, etc.

Line 1-1. Name of Owner or Corporation (If partnership, include name of each partner)


I know that an LLC is treated in a lot of ways like a partnership, so is it required to put both of our names here because the FFL will be with the company and not either of us individually? If that is the case would she be cleared at that point to sell the guns as well?


I don't want to turn in this application looking like an idiot. This is a serious venture for me and I don't want to raise eyebrows out of the gate.


Thanks ahead of time!
 
You probably need to check with a local business lawyer to check out the details in your State, but in general I think your wife would need to be listed as well as you.

While general partners in a partnership or managing members in an LLC can assign themselves or assume various ranges of responsibilities in the enterprise for organizational purposes, each legally has fully authority to conduct the business of the enterprise.

In other words, although you and your wife might decide between yourselves that in running the business you would do A, B and C while she would do X, Y and Z, as far as the rest of the world is concerned each of you could do everything.
 
If I may, you need to know if where you live is zoned for home businesses. I was applying for an FFL some years ago and got stopped in my tracks as my community did not allow for home based businesses. Before you expend any more time and money, check it out. Good luck. Hope it works out for you.
 
You must log in or register to reply here.
Back
Top