Well played David, well played.
The dealer->dealer does not equal individual->dealer->dealer-> individual. However, that poses an interesting question...
Are individual to individual transfers prohibited across state lines? Being that they're federally regulated it seems like it would be ok. Say, to a couple guys between Florida and Georgia.
Am I wrong in thinking that the dealer 'owns' things on the form 3 thus does not require a tax paid? Or once an individual (such as myself) owns something on a form 4 it may not go back to a dealer on a form 3 to be sold to someone else?
Interesting can of worms...