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Old 03-02-2012, 04:28 PM   #11
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Quote:
Originally Posted by Alwayscarrying View Post
Dang. Thats a lot of info. Id just be be buying stripped receivers and building them from there. So a manufacturers ffl and a business license would pretty much do it?
Maybe insurance as well. With most states you can establish an LLC pretty easy for 50 bucks to a couple hundred (fees vary by state). You will also need a resale cert because you have to charge tax to residents. You are pretty much a gun store/manufacturer out of your house, but setting up your business assets away from your personal assets is a good idea in the event of a lawsuit or bankruptcy.
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Old 03-02-2012, 04:31 PM   #12
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This is gonna be quite a bit on my wallet on my current pay lol

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Old 03-02-2012, 06:29 PM   #13
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If I was assembling custom made anything, especially guns, I'd be buying liability insurance regardless of whether I was incorporated or not. Unfortunately, one thing we need to recognize is how anyone can be sued for pretty much anything. Even if the problem was a component failure out of your control, everyone involved gets named in suits. For example, if you were installing, say, Accu-Group trigger packages and there was a catastrophic failure and someone got hurt and sued, the shyster would name Accu-Group, the distributor you bought it from, and you. If your corporation has minimal assets, they would look to name anyone and anything they could to better guarantee the money. The more principals they name, the better the chance of a bigger payoff. That's often how it works. Personal injury cases generally net the law firm on the plaintiff's side 40% of recovered funds regardless of if a court judgment or out of court settlement. Yeah, if incorporated, you basically protect your personal assets in this case, but there's no absolute guarantee of anything, so why take the risk unprotected?

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Old 03-02-2012, 07:00 PM   #14
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Very very true.

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Old 03-02-2012, 07:56 PM   #15
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Couldn't you just show them what to buy, and help them build it/instruct them how to do it? That way they learn about the gun, and you are not selling them anything.

This only works if you don't mind not making a profit. If you do want to make a profit doing this, then I'm not sure what kind of FFL (if any) you would need since you would be an instructor, not a manufacturer.

If you actually want to make these and sell them, then you would need an FFL, possibly a business licence, and a TON of liability insurence.

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Old 03-02-2012, 10:12 PM   #16
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Didnt think about that texas. Great idea.

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Old 03-02-2012, 11:09 PM   #17
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AND- if you are planning to manufacture in your home, or sell with your home as your licensed presises, before the ATF will issue you a Manufacturer's or a Dealer's FFL, you will need to show them that you meet ZONING requirments to do that in your house.

And yes, Mason- the "It" I was referring to was in the line above that.

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