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l921428x
07-22-2011, 01:01 AM
About the cost of a class III license. Can you guys supply me with some info on the cost and paperwork and a little of what is involved with the paperwork? Thanx........

circuits
07-22-2011, 05:17 PM
There is no license to own, just a one-time $200 (usually) tax per item.

Dealers have to have a dealer FFL and pay a yearly SOT Dealer (class 3 SOT) tax.
Manufacturers have to have a mfg FFL and pay a yearly SOT mfg (class 2 SOT) tax.
Importers have to have an importer FFL and pay a yearly SOT importer (class 1 SOT tax.

The transfer application requires photos, fingerprints and a LEO sign off if you're not corporation, trust or dealer, and has been taking about four to five months to process.

Machineguns are restricted to those made and registered before 5/19/1986, so an M16 will run you over $10000 because of the fixed supply, but suppressors and short barrel stuff are in the $1000-$2000 range

l921428x
07-23-2011, 02:00 AM
SOT/ sale or transfer?

nfa1934
07-23-2011, 11:43 AM
SOT/ sale or transfer?

If you want to buy from an SOT (for instance, buying a suppressor from a stocking dealer), it's a one-time $200 tax, no license. If you are buing from an individual in-state, no dealer involvement is necessary (you fill out the Form 4 and send it in on your own). If you are buying from someone out-of-state, you have to use an SOT to bring the weapon in-state for you.

My last few transfers have been around three months. During the previous (and more friendly) administration, I had a transfer go through in five weeks. Since Obama took office, the transfer times have been creeping back up.

darkheart
07-23-2011, 11:12 PM
SOT=Special Occupancy Taxpayer

circuits
07-24-2011, 12:03 PM
SOT/ sale or transfer?

Special Occupational Tax when referring to the tax itself.
Special Occupational Taxpayer when referring to someone who's paid the tax.