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JROD82 · October 27, 2009, 11:42 PM

I'm interested in getting my ffl to deal out of my home and have a few questions. So far as getting the license I understand the hoops I have to jumb through to get it. I know that i can not use it to souly build my own collection (maybe one here or there) but mainly have to sell to customers for a profit. The one thing on my mind is the business side of it.....from the info I've gathered, (correct me if i'm wrong) I will have to obtain a tax id number and establish my self as a business with the IRS. Now what boggles me is do I establish my self as Incorporated, Limited Liability Corp, etc. and what type of taxes should I look forward to paying and how often (yearly,Quarterly). Hopefully someone can guide me in the right direction in the NFA forum. Any advice would be greatly appreciated If would don't mind shareing experiance.

Thanks.

October 27, 2009, 11:42 PM	#1
JROD82 Junior Member Join Date: March 8, 2009 Location: Lake Jackson, Tx Posts: 12	Question? Getting FFL. I'm interested in getting my ffl to deal out of my home and have a few questions. So far as getting the license I understand the hoops I have to jumb through to get it. I know that i can not use it to souly build my own collection (maybe one here or there) but mainly have to sell to customers for a profit. The one thing on my mind is the business side of it.....from the info I've gathered, (correct me if i'm wrong) I will have to obtain a tax id number and establish my self as a business with the IRS. Now what boggles me is do I establish my self as Incorporated, Limited Liability Corp, etc. and what type of taxes should I look forward to paying and how often (yearly,Quarterly). Hopefully someone can guide me in the right direction in the NFA forum. Any advice would be greatly appreciated If would don't mind shareing experiance. Thanks.