June 2010 Archives

June 28, 2010

McDonald v Chicago: Supreme Court Reversed and Remanded Case

The Supreme Court has ruled today in an opinion by Judge Alito that the 2nd Amendment applies to the states through the 14th. More to come later. If you want to read the decision it's posted on the Supreme Court Website - McDonald v. Chicago or from our website McDonald_v_Chicago.pdf

June 16, 2010

If I currently own NFA firearms, can I transfer them into the trust without incurring an additional transfer fee?

irs_logo.jpgUnfortunately, the answer is no. The ATF considers the trust as a separate legal entity and the tax must be paid for the additional transfer. Given that this is essentially an tax by the IRS, it would seem logical that the tax would be waived because a revocable trust is a pass through entity and not taxed. As far as I know this has not been challenged because it is only $200 for the transfer and the cost to fight it would be many thousands of dollars.

June 14, 2010

Urban Shooter Podcast

Just got an email from Kenn Blanchard, the host of The Urban Shooter Show and author or Black Man with a Gun asking if I could talk about Gun Trusts tonight June 14, 2010 at 7:30 EST. If you have questions, you may want to listen to the podcast.

June 10, 2010

Looking for a Class III Transfer Agent?

Auction arms has a FFL Finder that may help you find a local dealer to do your Class III Transfers. Check out the FFL Finder.

June 5, 2010

Listen to GunTalk Sunday at 3 PM EST Call 1-866-825-5486 (June 6th)

Want to ask a question about Title II firearms or the NFA and NFA trusts, I will be the guest of Tom Gresham on Gun Talk tomorrow (June 6th) at 3 PM EST. Call 1-866-825-5486 to ask questions or just email us. If you do not get Gun Talk in your area, you can listen to one of the many live streams or download it on iTunes

You can also listen to a Gun Talk Sunday's from 7-10PM on the re broadcast on Sirius Channel 108 and XM Channel 139

June 2, 2010

How long does a Form 1 or Form 4 Take to be Approved by the ATF

While times have varied greatly over the last few years, it appears that the time your ATF Form 4 or Form 1 will take for approval seems to be tied to who the examiner is. A website NFATRACKER.com is collecting information on the times and offers some reporting on how long various transfers are taking. While the site is gaining speed and beginning to gather data, anyone who has a recent transfer should go and record your results. It is easy to create a login and select the type of item and whether you were an individual trust or corporation and the dates that certain events took place. So far we do not know how or if there is a way to pick who your examiner is by what the name of your trust is. The site's manager has stated that one reader seems to have found that there is some correlation between the name of the dealer and the examiner but it is still unknown if you can do anything to improve the time you trust takes for approval. If we figure anything out we will keep you updated. If you need help finding a local NFA Gun Trust attorney, have questions about a trust, or want to create a Valid NFA trust Contact Us.