NFA Trust Q's

J

JustinBiscuit

New member
two questions related to an NFA trust...

1. Do I pay the $200 tax stamp for every purchase? Example if I buy two suppressors do I pay $400.00?

2. I have a trust all ready, can I use this or should I get a different trust. I have free access to legal resources so its no big deal either way.

thx
 
I would get a 2nd trust made because you're going to have to have an amendment for the guns you transfer to the trust anyway...
 
Gun Specific Trust

As the others have answered, it's a separate tax for each NFA item regardless of your legal entity.

Also, I would recommend using a completely different trust designed for you NFA items. Your typical revocable trust provides no guidance on how to deal with NFA firearms which is important because they are so heavily regulated.

You should contact a lawyer in your home state to prepare a trust for your specific needs.

Regards
 
I have free access to legal resources so its no big deal either way.
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A typical revocable or "living" trust won't cut it. It really needs to be NFA and state specific. It should be a separate trust for NFA items. Remember, one type of trust is done with the goal of permitting you to acquire, possess and shoot, and possibly let others possess NFA firearms. The other type of trust is done with the purpose of taking care of family obligations and maximizing tax benefits when you die. Although I'm sure it is possible to combine everything into one trust, this would be quite challenging, overly complicated, confusing to those who will have to administer your affairs and simply not worth it.

I wish I could tell you what they cost, but I don't know.
 
I too am planning to set up a trust before buying my first NFA item. Here in SC I have had a few lawyers recommended by the local nfa dealers. Rates have ranged from $199-350 depending on lawyer.
 
I just paid a 340 and some change, but had it done by a lawyer that does them pretty frequently- paying a few bucks more gave me the peace of mind that they know what they're doing
 
paying a few bucks more gave me the peace of mind that they know what they're doing.

Good idea. We have an attorney in Houston who does trusts for $350.
 
two questions related to an NFA trust...

1. Do I pay the $200 tax stamp for every purchase? Example if I buy two suppressors do I pay $400.00?

2. I have a trust all ready, can I use this or should I get a different trust. I have free access to legal resources so its no big deal either way.

thx
Click to expand...

1. My brother uses a trust. He has a fully auto AK that he have to do 3 stamps for. He has fully auto (pre 1986 ban), SBR, suppressor, totaling $600.00 in tax stamps. Yes its $200 for each item

2. Technically you could use the trust but most people recommend having a separate trust for NFA items.
 
He has fully auto (pre 1986 ban), SBR,
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Full auto trumps SBR. You don't need to SBR a machinegun. If this AK is made full auto with a AK auto sear, I think the ATF ruled that all AK/auto sears are now "married" and cannot be separated. I could be wrong, my AK-fu is weak.
 
You have to drill the receivers on an AK to install the sear and auto parts - the sear isn't the regulated part, the drilled receiver is. There may have been some odd-ball drop-in type sears made for the AK that didn't require modification to the receiver - in that case, it would be the registered part. AK sears can be replaced if/when they wear out, so they aren't technically married to the gun. In certain builds the sear gets married to the gun, but in that case the sear has to be the registered "machinegun".
 
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