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Joined: Oct 2008
Posts: 29
Boxlock
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Boxlock
Joined: Oct 2008
Posts: 29 |
dubble, all of these guys are right, the ffl is to keep the serial numbered part of the gun overnight, the ordinances may surprise you, things such as how will you dispose of your "contaminated water", noise, etc., a lot of counties have zoning, not just in the city, dont underestimate how important this is, something that you intend to be enjoyable could turn out to be a real hassle, Brian
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Joined: Aug 2004
Posts: 411
Sidelock
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Sidelock
Joined: Aug 2004
Posts: 411 |
In addition to zoning and sales tax (on parts),one needs to be concerned about liability.Which may involve forming a L.L.C. and certainly purchasing liability insurance. Which will cost about $1000/year. And, your homeowners insurance people may have a fit.So,paperwork,zoning,fees,and inspestions make a hobby a real small business.
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Joined: Jul 2006
Posts: 1,082
Sidelock
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OP
Sidelock
Joined: Jul 2006
Posts: 1,082 |
hoo boy...lots to consider. So even though my brother in law IS my brother in law, or my buddy I have known for 20 years, if I work on his gun for him and keep it overnight, I'm in violation. Right?
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Joined: Jan 2002
Posts: 5,109 Likes: 39
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 5,109 Likes: 39 |
Not sure. What if he doesn't charge his buddy or BIL? Is he gunsmithing?
My problem lies in reconciling my gross habits with my net income. - Errol Flynn
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Joined: Aug 2004
Posts: 411
Sidelock
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Sidelock
Joined: Aug 2004
Posts: 411 |
I did not mean to be funny in the above-inspestions should read inspections.However,read the law and see if you are "in the business".If so, then the license is required.
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Joined: Oct 2008
Posts: 29
Boxlock
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Boxlock
Joined: Oct 2008
Posts: 29 |
William, the ATF defines in busines as: with the principal objective of livelihood and profit, but such term shall not include a person who makes OCCASIONAL? repairs of firearms, or who occasionally fits special barrels, stocks, or trigger mechanisms to firearms.and remember who gets to decide what occasionally means
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Joined: Oct 2008
Posts: 29
Boxlock
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Boxlock
Joined: Oct 2008
Posts: 29 |
ok, I looked up occasionally, it means sometimes, but not regularly or frequently
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Joined: Aug 2004
Posts: 411
Sidelock
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Sidelock
Joined: Aug 2004
Posts: 411 |
That was me at first. But the hobby grew and although it is not my principal income (by far),I have an 01 FFL.
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Joined: Jan 2002
Posts: 1,543 Likes: 103
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 1,543 Likes: 103 |
I have had an ffl for many years so maybe I can help some.
Lots of advise here that is good.
You will have to comply with either zoning or deed restrictions
Get a sale tax permit
You would be liable if someone gets injured via your repair. If you have nothing, you could be ok, if you have assets, you should set up an LLC and possibility about insurance
Should claim income and expense on your taxes
Get theft insurance that would cover your customers guns. Your regualr homeoweners insurance will not!
You will have to log guns in and out and be aware ATF can and will inspect your records. Failing to keep good and accurate records can lead to ffl suspensions and worse.
Make sure you really know what your doing. I have seen folks who are handy thinking that can work on guns, just because they can work on something else. Usually after seeing what they really can do on guns, I can train blind monkeys to do better.
Best to you
John Boyd
John Boyd Quality Arms Inc Houston, TX 713-818-2971
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Joined: Oct 2008
Posts: 29
Boxlock
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Boxlock
Joined: Oct 2008
Posts: 29 |
Wanted to add that I set up an LLC, the state had the forms on their website, downloaded, filled out, sent in with the fee, saved myself a couple of thousand dollars of lawyer fee.
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