Have you created a corp for the sole purpose of NFA items?

Ducati

Gym, Tan, Laundry
BANNED!!!
Rating - 100%
1   0   0
Jul 6, 2021
83
18
San Diego
Would creating a corporation in TX or another state be cost effective in registering vehicles and acquiring NFA items?
 

lonestardiver

TGT Addict
Rating - 100%
5   0   0
Dec 12, 2010
4,170
113
Eagle Mountain Lake area
Would creating a corporation in TX or another state be cost effective in registering vehicles and acquiring NFA items?

It would be a lot of work….everyone on the board needs to submit fingerprints and photo’s for background checks. Then you have required board meetings with minutes recorded. It would be easier to go with a trust having those people as trustees and not having to do all the corporation madness. Either way, every time a new item is added everyone has to resubmit paperwork.
 

Ducati

Gym, Tan, Laundry
BANNED!!!
Rating - 100%
1   0   0
Jul 6, 2021
83
18
San Diego
It would be a lot of work….everyone on the board needs to submit fingerprints and photo’s for background checks. Then you have required board meetings with minutes recorded. It would be easier to go with a trust having those people as trustees and not having to do all the corporation madness. Either way, every time a new item is added everyone has to resubmit paperwork.

Great input, thank you!
 

Txhillbilly

Active Member
Rating - 100%
2   0   0
Aug 2, 2008
726
93
North Texas
The simplest way of doing a Trust is an Individual Trust. Then you can add or detract anyone you want on the Trust after you get your stamps. Only you would need to do the photo and fingerprints, unless you want to add on Items later. Then everyone listed on the Trust would be required to do it also.

Or, You could just start up a new Individual Trust, and start over with new items on it.
 

Silencer Shop

New Member
Forum Sponsor
Rating - 0%
0   0   0
Jul 18, 2014
32
18
Austin, TX
The simplest way of doing a Trust is an Individual Trust. Then you can add or detract anyone you want on the Trust after you get your stamps. Only you would need to do the photo and fingerprints, unless you want to add on Items later. Then everyone listed on the Trust would be required to do it also.

Or, You could just start up a new Individual Trust, and start over with new items on it.

Might you be referring to a Single Shot Trust? The term "Individual Trust" could be confusing as there is an option to file as an "Individual" which is not under a trust and for the life of that item, you are the only person who can possess the NFA item.

The Single Shot Trust is an actual Trust for one serial number in which you can add and remove Responsible Persons for that item with a simple amendment.

 

ScottDLS

Active Member
Rating - 0%
0   0   0
May 7, 2020
277
63
Dallas/Fort Worth, Texas
I really don't get why most people don't just register as individuals. Do you really want to share your NFA items so much with other people? Mine were all done before the CLEO signoff went away and I still just registered (two machine guns, one silencer) them in my name.
 
Last edited:
  • Like
Reactions: Eli

ZX9RCAM

Over the Rainbow bridge...
TGT Supporter
Lifetime Member
Rating - 100%
2   0   0
May 14, 2008
49,743
113
The Woodlands, Tx.
I really don't get why most people don't just register as individuals. Do you really want to share your NFA items so much with other people? Mine were all done before the CLEO signoff went away and I just registered (two machine guns, one silencer) them in my name.

Well, I have included my GF on mine so that when I pass, she's legally in possession.
 
Top Bottom