Transfer best way

[Cevans]

I am looking at a local purchase of two supressors and a SBR. I live in Bartlett, a suburb of Memphis and the owner of the items lives in Memphis. We have checked with two different dealers in our area and get different answers depending on who we talk to. Some say the form 4, but the wait times seem forever. Others say for him to take the arms to a class III Dealer and transfer them to that dealer, then I can apply for the tax stamp through the dealer and use the digital filing option, which seems quicker....But, seems we cannot find out exactly how to transfer the items to the dealer. I'm more comfortable with a dealer holding the items during the wait, more so that someone I don't know very well. How much should it cost to transfer items to a class III Dealer. One dealer told this was the quickest and easiest way to go, then another employee at his store told the seller that the form 4 was the only and best way,,,thinking the dealer doesn't really make anything on it, he would rather not fool with it...Any suggestions or ideas guys....The price on the items is pretty good, especially since the owner found out how hard it is to sell class III items. Thanks and I appreciate any input anyone has on this matter.

Chuck

[Guest BCR#1]

Since both you and the seller are TN residents, no FFL is needed. The items will all transfer on approved form 4's and the $200 tax will apply on all three transfers. If you use an FFL, the tax is paid twice on each item and the FFL will charge his fee on all three items. The FFL also has to have an SOT, title one FFL's aren't allowed to do transfers on title II items. Dealer does all three transfers = $1200 in transfers and probably $50 or more per transfer to run them through his bound book.

Wait times have fallen some so just file the form 4's and forget about the wait.

Bill

Edited July 31, 2020 by BCR#1

[Johnny Rotten]

1 hour ago, BCR#1 said:

Since both you and the seller are TN residents, no FFL is needed. The items will all transfer on approved form 4's and the $200 tax will apply on all three transfers. If you use an FFL, the tax is paid twice on each item and the FFL will charge his fee on all three items. The FFL also has to have an SOT, title one FFL's aren't allowed to do transfers on title II items. Dealer does all three transfers = $1200 in transfers and probably $50 or more per transfer to run them through his bound book.

Wait times have fallen some so just file the form 4's and forget about the wait.

Bill

You forgot state sales tax via the dealer.

 

Best option is to buy them from the individual, see if he'll do a 50/50 plan (half up front the other half when your approved), no state sales tax, no transfer fees, no background check, you pay the stamps (3-$600) with a check and you'll know when it goes pending, sit back and wait and wait.

[Guest BCR#1]

The state told my dealer he didn't have to charge sales tax on transfers so he doesn't.

Bill

[Cevans]

Thanks for the helpful info guys, just guess I will do the form 4 and proceed to wait, LOL

[Capbyrd]

Chuck, please feel free to reach out to me directly if you would like to go over the processes in detail.  I live in Raleigh so I'm just over that pesky city line and I have completed a few in state transfers and have one pending right now.  

[Cevans]

Thanks Capbyrd, will probably contact you soon regarding this transfer.

[Capbyrd]

Anytime!