Pro's and Cons of 01 FFL vs 07 FFL with SOT

[kingson]

So a little background. I'm in NH. I have had my 01 FFL for 15 years now, it is an LLC not a Sole Proprietorship. The past few years I have been thinking about getting my SOT tax stamp so that I can deal in NFA stuff. But lately I have been thinking that if I do that then maybe it would be better to get an 07 FFL and a SOT tax stamp. Just wondering if people have opinions on what way would be better to go and the pro'a and cons. Thanks

 

[Davidk]

The issue for me was the ITAR export registration requirements that cost $2500 a year for manufacturers, even if the company didn’t export.

I’m not certain, but the latest changes may have eliminated that. Hopefully someone will chime in with info

 

[Wrench75]

@one-eyed Jack

 

[Behind Enemy Lines]

They removed a lot of stuff from ITAR but post samples are still there so if you're going for an 07 and want to make some posties, ITAR still applies.

The issue for me was the ITAR export registration requirements that cost $2500 a year for manufacturers, even if the company didn’t export.

I’m not certain, but the latest changes may have eliminated that. Hopefully someone will chime in with info

 

[one-eyed Jack]

07/SOT gives you more options. ITAR is a grey area. Research that carefully if you actually want to make post samples. Meanwhile, you can have post samples transferred to you under the right conditions. The SOT will allow you to deal in transferrable NFA stuff. You don't "apply" for the SOT, you just buy it. Jack.

 

[NHKevin]

Maybe get the class3 SOT to start, and see if that scratches the itch enough?

 

[one-eyed Jack]

Maybe get the class3 SOT to start, and see if that scratches the itch enough?

Get your EIN. Get the 07. Buy the SOT around June 1. (runs July 1 to June 30 each year). Actually pretty easy. Then you'll be off and running. Jack.

 

[Steve_P]

They removed a lot of stuff from ITAR but post samples are still there so if you're going for an 07 and want to make some posties, ITAR still applies.

Yea, I believe most title l stuff will not be itar controlled when the regulation takes effect.
However, machine guns & silencers are still controlled.
Means I still have to register, even though we don't export (yet)

Steve