Not so, I've owned several full autos and although I have had a couple of FFLs, I never had any of the ones dealing with full auto.
There is a LOT of mis and wrong information about them.
The actual facts:
NO license is required to own a full auto.
There is NO annual fee, involved in the ownership of anything full auto.
What IS required is, a Form 4 (which include(s)(d) a statement from the CLEO in your jurisdiction),two sets of fingerprints AND a $200.00 t***sfer tax must be submitted to the ATF. The prints are forwarded to the FBI.
A VERY thorough background check is run.
The firearm can NOT be t***sferred until the ATF approves the t***sfer, at which time both the seller and buyer are sent copies of the approval.
Once the approval is granted, the t***sfer MUST take place at the earliest opportunity, as the seller is NO longer the "legal" owner.
Most sellers require payment at the time of sale, NOT the time of t***sfer, which precludes "tire kickers".
The $200.00 "t***sfer" tax, is a TAX, which is paid to the government EACH and EVERY time, a full auto firearm, is t***sferred. As a example:
You own a full auto and I wish to purchase it (YES full auto sales are permitted between individuals), I pay you your price, I send the ATF (the government) the $200.00 t***sfer tax, when the sale is approved you MUST t***sfer ownership of the auto, to me.
In a few years, you develop seller's remorse and wish to buy the gun back, the VERY SAME gun that you already owned.
You pay me, my price. You submit a form 4, fingerprints and another $200.00 T***SFER TAX. Same wait, approval and procedure.
A few more years go by, you now end up on hard financial times and I am anxious to buy the gun again, this is the same EXACT gun, that we have BOTH already owned, same procedure and another $200.00 to the government!
It's ONE time tax/fee, per EACH t***sfer, no license, you actually receive a tax stamp, and no annual or other fee.
Fredfish wrote:
Unless you have a FFL, it's illegal to OWN an AUTOMATIC WEAPON of any kind. Please do not fall for the propaganda!!!