Is a BATF Tax Stamp, Tax Deductable?

alanint · 04-09-2010, 10:32 AM

The law clearly stipulates penalties for anybody adopting a license to "enhance a personal collection" versus conducting legitimate business.
Unlike David's experience going back some years, even obtaining an FFL is no longer as easy as it used to be. About 10+ years ago the Feds purged something like 1/4 MILLION FFLs, who were "doing business" out of their garages or homes, mainly buying guns for themselves and their friends, or selling guns for 10% over cost. Today a commertially zoned property and building are usually required, along with insurance and security arrangements and visible, ongoing business being evident. The SOT is $500 additional to the FFL, which is usually not a problem for someone actively buying and selling NFA items regularly at today's prices.

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04-09-2010, 10:32 AM	#12
alanint User Join Date: Mar 2008 Location: Marco Island, Florida Posts: 4,867 Thanks: 1,685 Thanked 1,917 Times in 1,193 Posts	The law clearly stipulates penalties for anybody adopting a license to "enhance a personal collection" versus conducting legitimate business. Unlike David's experience going back some years, even obtaining an FFL is no longer as easy as it used to be. About 10+ years ago the Feds purged something like 1/4 MILLION FFLs, who were "doing business" out of their garages or homes, mainly buying guns for themselves and their friends, or selling guns for 10% over cost. Today a commertially zoned property and building are usually required, along with insurance and security arrangements and visible, ongoing business being evident. The SOT is $500 additional to the FFL, which is usually not a problem for someone actively buying and selling NFA items regularly at today's prices.