I already know the answer (I think) but I need to ask the question.
Last year a purchased a AAC suppressor, I didn't go the trust route because it was the only one I was ever going to buy (let this be a lesson to you). Now I am looking at getting a few more cans, and I really don't want to have to go through all the Form 4 hassles. So I am looking at creating a trust. In NM, creating a trust is no problem, Will Maker will do the job nicely, and I understand the process of completing the form 4. But here is the question:
My current suppressor is on a form 4 registered to me, will I have to pay the $200 tax and complete another form 4 to transfer it to the trust?
~~~~~~~~~~~~~~~~~~~~~~~ "I take my personal safety personally." - Me
Originally posted by Bovineguy: I already know the answer (I think) but I need to ask the question.
Last year a purchased a AAC suppressor, I didn't go the trust route because it was the only one I was ever going to buy (let this be a lesson to you). Now I am looking at getting a few more cans, and I really don't want to have to go through all the Form 4 hassles. So I am looking at creating a trust. In NM, creating a trust is no problem, Will Maker will do the job nicely, and I understand the process of completing the form 4. But here is the question:
My current suppressor is on a form 4 registered to me, will I have to pay the $200 tax and complete another form 4 to transfer it to the trust?
You could but why would you ? OK maybe putting others on the trust as trustees might be a good reason so they can use it without having you around. Otherwise you cant transfer it to a trust as trust property without paying the $200 transfer tax.
Originally posted by mikeandnatasha: You could but why would you ?
Well, exactly. If it could be transferred to the Trust without paying the $200 tax, then I would, but there really is no reason to do that if I have to pay the tax. I was pretty sure like 99.99999% sure this was the case, but I just wanted to me 100% sure.
Thank you
~~~~~~~~~~~~~~~~~~~~~~~ "I take my personal safety personally." - Me
