I am an officer of an LLC, I read that i can use this instead of going personal requiring photos, fingerprint cards, and cleo autograph. This would also save me money from starting up the trust. can someone explain this in more detail to me and me some tips. thanks
Suppressors supressor through a LLC
- Thread starter rware91
- Start date
Re: supressor through a LLC
All of my NFA gear is though my LLC. While it is a bit easier up front (requiring less paperwork) I regret going this route because I will now have to pay $1200 for transfers should I decide to dissolve the LLC if I want to keep my stuff.
All of my NFA gear is though my LLC. While it is a bit easier up front (requiring less paperwork) I regret going this route because I will now have to pay $1200 for transfers should I decide to dissolve the LLC if I want to keep my stuff.
Re: supressor through a LLC
Trust doesn't always require a lot of money up front. There are plenty of trust templates out there that can be addapted to your individual needs. Draw one up and have a lawyer friend look it over if you are unsure. Older versions of WillMaker have this as an option too, but can introduce errors. If you want, I can send you a copy of the template I used for mine. I had a lawyer friend look it over, and it is legal for MT. Just don't make the Grantor/Trustee the Benificiary as well. IM me if you want to look at it. It's free.
Trust doesn't always require a lot of money up front. There are plenty of trust templates out there that can be addapted to your individual needs. Draw one up and have a lawyer friend look it over if you are unsure. Older versions of WillMaker have this as an option too, but can introduce errors. If you want, I can send you a copy of the template I used for mine. I had a lawyer friend look it over, and it is legal for MT. Just don't make the Grantor/Trustee the Benificiary as well. IM me if you want to look at it. It's free.
Re: supressor through a LLC
All my stamps were run through my business ("C" corp.). Way easy. No regrets, yet. I figure if I ever have to sell/disolve the company, that means I'm broke and won't be able to afford to shoot 'em anyway! It's a another little incentive to stay in business.
All my stamps were run through my business ("C" corp.). Way easy. No regrets, yet. I figure if I ever have to sell/disolve the company, that means I'm broke and won't be able to afford to shoot 'em anyway! It's a another little incentive to stay in business.
Re: supressor through a LLC
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: johngfoster</div><div class="ubbcode-body">Trust doesn't always require a lot of money up front. There are plenty of trust templates out there that can be addapted to your individual needs. Draw one up and have a lawyer friend look it over if you are unsure. Older versions of WillMaker have this as an option too, but can introduce errors. If you want, I can send you a copy of the template I used for mine. I had a lawyer friend look it over, and it is legal for MT. Just don't make the Grantor/Trustee the Benificiary as well. IM me if you want to look at it. It's free. </div></div>
Agree 110%, I have been down the corp, LLC, individual and now in trust mode.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: johngfoster</div><div class="ubbcode-body">Trust doesn't always require a lot of money up front. There are plenty of trust templates out there that can be addapted to your individual needs. Draw one up and have a lawyer friend look it over if you are unsure. Older versions of WillMaker have this as an option too, but can introduce errors. If you want, I can send you a copy of the template I used for mine. I had a lawyer friend look it over, and it is legal for MT. Just don't make the Grantor/Trustee the Benificiary as well. IM me if you want to look at it. It's free. </div></div>
Agree 110%, I have been down the corp, LLC, individual and now in trust mode.
Re: supressor through a LLC
I set up an LLC specifically as an NFA holding company. In my state it was very easy. $50.00 one time fee, and they had 14 days to respond. I can't see a reason that I would ever want to dissolve my llc. If you already have an llc for another purpose, then you may want to go the trust route or create a new llc NFA holding company.
I set up an LLC specifically as an NFA holding company. In my state it was very easy. $50.00 one time fee, and they had 14 days to respond. I can't see a reason that I would ever want to dissolve my llc. If you already have an llc for another purpose, then you may want to go the trust route or create a new llc NFA holding company.
Re: supressor through a LLC
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jakhamr81</div><div class="ubbcode-body">I set up an LLC specifically as an NFA holding company. In my state it was very easy. $50.00 one time fee, and they had 14 days to respond. I can't see a reason that I would ever want to dissolve my llc. If you already have an llc for another purpose, then you may want to go the trust route or create a new llc NFA holding company. </div></div>
Yes, the current LLC is used as a consulting firm. Is the reason why i should create a new entity liability? i dont want somethign to happen with the suppresor and have my firms liable. i just thought it would be cheaper to run it trough an existing one. So my question now isnt can i run it through my llc but should i? or should i just create a new trust or a new LLC?
thanks for the help.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jakhamr81</div><div class="ubbcode-body">I set up an LLC specifically as an NFA holding company. In my state it was very easy. $50.00 one time fee, and they had 14 days to respond. I can't see a reason that I would ever want to dissolve my llc. If you already have an llc for another purpose, then you may want to go the trust route or create a new llc NFA holding company. </div></div>
Yes, the current LLC is used as a consulting firm. Is the reason why i should create a new entity liability? i dont want somethign to happen with the suppresor and have my firms liable. i just thought it would be cheaper to run it trough an existing one. So my question now isnt can i run it through my llc but should i? or should i just create a new trust or a new LLC?
thanks for the help.
Re: supressor through a LLC
I would go with a new llc or trust. If something happens to your original llc they can't touch your nfa llc or any of the property under it. At least that is my understanding.
I would go with a new llc or trust. If something happens to your original llc they can't touch your nfa llc or any of the property under it. At least that is my understanding.
Re: supressor through a LLC
You can't beat free. My trust was free, and I had a lawyer look it over, for free, and it is a valid trust. PM me if you want more detail. I'll let you have a template for free too. Or you could just do your own research and find one you like on the internet for free as well. No corp. fees, no maintenance fees, none of the other red tape associated with an LLC.
You can't beat free. My trust was free, and I had a lawyer look it over, for free, and it is a valid trust. PM me if you want more detail. I'll let you have a template for free too. Or you could just do your own research and find one you like on the internet for free as well. No corp. fees, no maintenance fees, none of the other red tape associated with an LLC.
Re: supressor through a LLC
I do NFA trusts.
I reccomend keeping your NFA items in a seperate entity for many reasons. Number one is liability. also, if you have other shareholders or partners, they have a claim on all assets owned by the Corp, LLC or partnership.
This includes your NFA items.
You might get a seperate agreement concerning these items, but if things go wrong, it is subject to attack and again, this puts the NFA items at direct risk.
so why do it?
SC
I do NFA trusts.
I reccomend keeping your NFA items in a seperate entity for many reasons. Number one is liability. also, if you have other shareholders or partners, they have a claim on all assets owned by the Corp, LLC or partnership.
This includes your NFA items.
You might get a seperate agreement concerning these items, but if things go wrong, it is subject to attack and again, this puts the NFA items at direct risk.
so why do it?
SC
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