Adding SOT to your FFL

Рет қаралды 7,882

Little Johnny's Firearms

Күн бұрын

Пікірлер: 64

@ryangriffin8907 7 ай бұрын

Still waiting on that further in depth SOT video! Thank you for this video, you did great!

@madpacket 9 ай бұрын

Looking forward to your mentioned future SOT video! Thanks for this one also.

@Brian-lg1ui 5 ай бұрын

Can't wait for your new video. Hope everything is going well

@natesalinas6825 Жыл бұрын

Great info bud! i am a new FFL and about to get a SOT-2

@LJFirearms 11 ай бұрын

Congrats

@brianroberts62 Жыл бұрын

Thanks! Had my ATF interview last week and was told my 07 FFL license would be in the mail within 2 or 3 weeks! I know it's late (after July 1) but I plan to pair it with the 02 SOT. Your video was very informative and just what I was looking for. Thank you! Can't wait to see your videos on full auto transfers. One question- so I did my FFL under an LLC. So I take it if I purchase a suppressor under the LLC, I'd have to transfer it to me under a form 4, to myself personally, AND pay the $200?

@LJFirearms Жыл бұрын

I'm not an LLC but my understanding as long as you maintain your SOT you can log anything to your personal collection. If you give up your SOT you can keep your personal collection as long as you maintain the LLC. The moment you dissolve the LLC you have to Form 4 and pay the $200.00

@Ranchopistolas333. Жыл бұрын

@@LJFirearms Hey so it's best not to LLC with the 07/02 since u will have to pay the $200 tax stamp if u cancel LLC & the ffl & sot But if you just only a 07/02 holder & end up not wanting to continue holding those license then u can keep them & not pay the 200 , that's rite ?

@LJFirearms Жыл бұрын

@@Ranchopistolas333. I can't say what is best. I'm just saying if you LLC give up your SOT you need to keep the LLC if you have NFA items or if you want to dissolve the LLC and keep NFA items pay $200.00 per item to transfer to you. If your FFL is under sole-proprietor and you give up SOT you continue to keep NFA items no transfer needed. The only caveat you can never keep post-automatic weapons if you give up your SOT no matter what.

@Ranchopistolas333. Жыл бұрын

@@LJFirearmsokay understood Ty sir

@DexterJrParks 11 ай бұрын

@@LJFirearmshpw do u get sole proprietary

@IndpndntPtriot 7 ай бұрын

My biggest question is the possibility and plausibility to get the SOT w/o having on-hand inventory. Order as they come in, that type of thing.

@LJFirearms 7 ай бұрын

You don't need to have inventory I order tons of silencers one at a time. It doesn't matter if you have silencers on hand customers that order usually know they can't walk out the same day with it like most firearms.

@Hillcountryoperations 4 ай бұрын

So does getting a FFL mean I can ship the fire arms to my self rather then having to pick up from a store?

@flintlockarmsllc1962 8 ай бұрын

The video was very informative. Thank you. As an individual you need to go through the ATF docs and pay the 200 for the tax stamp. My question would be, if you decide to no longer have your SOT as an FFL, and you have SBRs or suppressors in your current inventory, how do you get individual stamps for each. Do you need individual stamps or any other docs if you decide not to do the SOT?

@LJFirearms 8 ай бұрын

I am assuming you mean if you are an FFL with an SOT and then decide you do not want to be an SOT anymore. If you decide you do not want to be an SOT and how you handle that inventory depends on if you are a sole-proprietor FFL or an LLC. If you are a sole-proprietor you do not need to do any transfer. They are in your name you keep them. If you are an LLC you have two options you maintain the LLC for the rest of your life and keep the NFA items. or if you do not keep the LLC you have to Form 4 them to yourself before you give up your SOT, but have to pay the $200.00 stamp for every item.

@joshwilliamson8403 6 ай бұрын

I've been giving serious thought on getting a type 7 with an sot just so I can own and make any full auto I want without having to pay ungodly amounts of money to own a full auto for a pre 86, and be able to get suppressors quickly. I don't really have any interest in selling. 😂 my main hobby is guns and I love tinkering with my own, like my rossi 92 I've slicked up and lightened all the action etc. and collecting firearms as I'm able but would love to be able to take it a step further. I've always wanted a full auto. I've been on the fence for a while now. I just really enjoy firearms and I think it would be cool to manufacter my own kind of stuff. It'd give me even more of a reason to go shoot. I'm sure they would not allow this sort of thing because it'd basically be a loophole. Is this possible to do or would you have to be a technical business and actually sell items. Would it be possible to have my own collection and just sell a few nfa items here and there and be considered good?

@ActUnaccordingly 2 ай бұрын

Have you done it yet or found anything to your problem, been wanting to do basically everything you sad lmao

@codebebop 11 ай бұрын

How profitable is being an SOT type 7 /02 manufacturer? Looking to add to or replace my income entirely if it’s profitable.

@LJFirearms 11 ай бұрын

I really can't answer that for you. You need to figure out what sells in your area, market the hell out of it, and make a quality product. If you manufacture shotguns and your are area loves AR-15's you might not do well.

@QualitySportsman 6 ай бұрын

This is more of a business question than an FFL question. Folks often say “there’s no money in guns” and I tend to agree with my limited personal experience diving into FFL world. There’s a higher profit margin in accessories. If you have the means to manufacture that might work but it’s expensive to get into business. Recommend you build a business plan and look at that aspect first, good luck!

@SERODEFENSIVE Жыл бұрын

Great video thank you sir!

@michaelcreel515 Жыл бұрын

Hey I’m new and I’m looking to get a website, who do you use for your website if you don’t mind me asking that links with your distributor’s?

@LJFirearms Жыл бұрын

Corefire

@AA-xk7gy Жыл бұрын

So what’s considered conducting business? Can I just buy them to own as long as I pay the $500 a year or do I have to also sell some of the NFA items for it to count as conducting business?

@LJFirearms Жыл бұрын

So there is no definition of conducting business or a set number. I'm sure if you had 15 items in your personal collection and you haven't sold a single item in a year. The ATF will question you at an audit. However, it is up to their interpretation.

@PP-yf4kl 10 ай бұрын

Do you get to keep your full autos as well? Or just sbr?

@LJFirearms 10 ай бұрын

If you give up your SOT you cannot keep full autos you have to sell or give them to another SOT dealer and it has to be done before your SOT expires. You can keep SBR and suppressors though.

@ThatGunGuyy 27 күн бұрын

What if i dont want to make money ? Can i do an 07ffl with an 02 sot just for my own enjoyment of making and using full auto?

@LJFirearms 26 күн бұрын

You can not do that.. ATF rules clearly states in order to be an FFL you have be "engaged in the business" of selling firearms. They actually make you list your store hours on the application that you will be open. They will usually do an audit every year. You will have to show them your books and they will come to your listed place of business including your home if home based during those business hours.

@giovannilazu6115 10 ай бұрын

Can you apply for SOT straight on or do you have to have form 7 and wait the 3 years first?

@LJFirearms 10 ай бұрын

As soon as you have your FFL you can get SOT it takes about 30 days to issue and you are guaranteed as long as you have FFL. You also don't need a 7 to get it unless you plan on manufacturing. It costs $500.00 and is only good July 1 to June 31 no matter when you get it and it isn't pro rated. So if you got it now you pay $500.00 and it is only good to June 30th of 2024.

@michelreed Ай бұрын

did you have to register with ITAR after you got the SOT? (the $2250 a year fee)

@LJFirearms Ай бұрын

@@michelreed ITAR only comes into play with a Type 7 FFL when you are manufacturing. ITAR also only comes into play under certain manufacturing conditions and most small home based manufacturers are not required to get have it.

@michelreed Ай бұрын

@@LJFirearms thx!

@Ranchopistolas333. Жыл бұрын

Great info on the video !

@dubyamiyami 7 ай бұрын

Is a type three by default also a type one and two? or can you only be one of the three

@LJFirearms 7 ай бұрын

To get a Class 1 SOT status, an importer FFL is needed, which are FFL Types 8 and 11. To get a Class 2 SOT status, a manufacturer FFL is needed, which are FFL Types 7 and 10. To get a Class 3 SOT status, a dealer FFL is needed which are FFL Types 1 and 2.

@Tacticool_Dad 7 ай бұрын

If you are an FFL 7 and SOT 2 do you have the same ability as an SOT3 but the addition to also manufacture or would you have to be FFL 7 and both SOT 2 & 3?

@LJFirearms 7 ай бұрын

@@Tacticool_Dad FFL 7 & SOT 2 has the same privileges as FFL 1 & SOT 3

@trentmarsh9033 Ай бұрын

Just curious if you cease your sot and keep your nfa items. What do you show as your "tax stamp" if ever requested since there wouldnt be one.

@LJFirearms Ай бұрын

@@trentmarsh9033 If anyone asks you tell them you had an SOT and don't anymore. It was acquired when the SOT was active. The law enforcement entity can reach out ATF Tracing and they can tell them you are permitted to have it. Even when your SOT is long gone, the ATF still knows you have it.

@trentmarsh9033 Ай бұрын

Appreciate it. I was thinking of getting my ffl and sot just to focus on suppressor sales and sbrs

@LJFirearms Ай бұрын

@@trentmarsh9033 just remember if you get your FFL under an LLC and you one day decide to not be an FFL anymore. If you have NFA items you will need to keep your LLC forever. Or turn the items to law enforcement or ATF for destruction. If you do a sole proprietor then you don't need to do anything further.

@Ranchopistolas333. Жыл бұрын

Hey , Question , let's say I get my 07/02 . When it comes time to renewal or when I get my yearly inspection , will regular non NFA transfers be counted as " business " for my 02 ? Ty

@LJFirearms Жыл бұрын

1. There is no yearly inspections. The ATF can audit you whenever they want. Some do yearly I have seen others go 8 years and never have one. 2. There is no number of firearms/NFA items you have to sell or keep for yourself. You have to be engaged in the business of firearms. I do not believe that ATF separates 07 from 02 when determining.

@Ranchopistolas333. Жыл бұрын

@@LJFirearms okay good to know Ty , that's was I'm worried bout the " business transactions " of the 02 , if they don't separate the 07/02 when determining that's good , ima look more into it Ty sir

@DexterJrParks 11 ай бұрын

@LJFirearms ok so let's say I want to start a home based ffl and go woth ffl type 07. Which sot is better 02 or 03? Second if it's home based what would I need to set it up like a computer or? If I want to buy the gun parts and build an ar from a lower and sell it.

@michaelcreel515 Жыл бұрын

With an SOT 2 can you deal with already made automatic firearms as well as manufacture?

@LJFirearms Жыл бұрын

Yes a 2 lets you do both manufacture and deal with ones manufactured.

@DexterJrParks 11 ай бұрын

@@LJFirearmscan u have to sot like a type 07 ffl and sot 2 and 3. Bc 2 lets u make nfa guns but sot 3 lets u make nfa items

@LJFirearms 11 ай бұрын

@@DexterJrParks that is incorrect sot 2 lets you manufacture and 3 lets you sell.

@LJFirearms 11 ай бұрын

@@DexterJrParks if you want to manufacture both your would need 07/02 which allows you to make "and" sell. If you just want to sell you would need 01/03. If you don't want to get into NFA then you need 01 to sell and 07 to sell and manufacture.