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Philadelphia Class lll

Discussion in 'Pennsylvania Glockers Club' started by Titurel, Apr 8, 2006.


  1. Titurel

    Titurel
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    The Philadelphia PD will not sign paperwork for full-auto weapons. I realize that this problem can be avoided by forming a corporation that will own the weapon. Is the situation the same with suppressors? I'd like to get one, but I'm not sure how much red tape is involved for Philadelphia residents. Thanks
     

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  2. PennGlock

    PennGlock
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    I really cant imagine those ignorant bastards signing on for your suppressor. Corporation or Trust is probably your only option in Phila. An extra benefit of going these routes is that the total time to process your application will be up to 3 months faster.
     

  3. trakker45

    trakker45
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    Your best option is to form a PA LLC (limited liability company) because there are no yearly registration fees. I am an attorney and have formed four LLCs for guys in your situation. Yes, you need a signature for suppressors and machine guns. If you want, I can do the paperwork for you for a fee. Shoot me a PM if you are interested.
     
  4. DeadMansLife

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    Other than the paperwork, what is involved with forming an LLC?

    Is there any other advantage to having an LLC other than Class III such as tax benifets, ownership of cars, property and such?
     
  5. trakker45

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    It's just paperwork and a one-time filing fee of $125. And a short wait until the state tells you that the LLC has been registered.

    The primary advantage to an LLC is limited liability (such as with a corporation) but you are not taxed as heavily as corporations. You report income for the LLC on your personal income tax return, schedule C.

    So, for example, let's say you decide to start a business. You form an LLC for the business, and as a result, you are not personally liable for the business's debts (inventory, judgments obtained by creditors, etc.). Your creditors can only collect against the businesses assets, not your personal assets.

    But when tax time rolls around, you report the LLC's income on your schedule C rather than filing a corporate tax return.

    LLCs were created to avoid the double-taxation that corporations are subjected to under the tax code. It it the smartest way to go if you are forming a new business in PA (and want to register the business in PA).

    You can own anything through an LLC, but I would not form one just to say I had one. If I owned rental property, then yes, I would probably form one to cover my ass if a tenant sued me.
     
  6. DeadMansLife

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    I should have asked my question a bit differently.

    Is there any advantage in running a family household as an LLC?

    Let's say I have a sizeable investment in my childs future. I want to protect it from a law suit due to an accident(car crashes happen). Can I run my household as an LLC and keep my assets protected from a whip-lash hustler?
     
  7. trakker45

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    In this situation, I think the easiest thing to do would be to purchase a one million or two million dollar umbrella policy to supplement your car and homeowners insurance. My insurance agent quoted me $156 per year for a one million dollar umbrella policy. Trying to run your household as an LLC would be a pain in the butt, if you ask me. The umbrella policy simplies everything and would provide the added security you seek in the event that someone obtains a large judgment against you, such as in an auto accident, and your car insurance is inadequate to cover it. Hope this helps.
     
  8. DeadMansLife

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    Thanks trakker45. I never gave a thought to insurance and $156 a year is a cheap investment considering what could be lost.
     
  9. ZephyrNewYork

    ZephyrNewYork
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    If you live in a non-Class III friendly state (state Z), but you form a LLC in a Class III friendly state (state X), is your LLC eligible to purchase Class III firearms in State X as long as you comply with the laws by storing/keeping them in State X and do not take them into State Z?


    Frank
     
  10. trakker45

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    The short answer is no. The LLC must be registered in a state where you reside or own a residence. But if you owned a summer home in state X, you could form an LLC in that state and store the weapons there while you are living in state Z.
     
  11. ZephyrNewYork

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    Thanks :)


    Frank
     
  12. danp

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    A corporation would work the same for a suppressor as anything else. I am also in Philadelphia and created an LLC so I could buy my M16, I plan on buying a gem-tech trinity next.

    Shoot me an email dpehrson [at] pafoa.org or find me on http://www.pafoa.org/forum/ if you have any other questions or want more info on incorporating.
     
  13. trakker45

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    Dan,

    The Trinity is a bit outdated. If you are looking for a modular suppressor that could be used on your M-16 (in 9mm configuration) and a pistol, I would suggest the Trident9 by SWR. I bought one and am currently waiting for my form four to clear. It's a GREAT pistol suppressor (works like a charm on my Glock 17), and it supposedely is even better on a subgun. I plan on using it on my uzi smg soon. If you are ever in Pittsburgh, drop me a line and I will let you check it and my other suppressors out.

    Be warned: suppressors are an addition. I have four and a fifth on the way (four 9mm cans and a Gemtech Outback).
     
  14. danp

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    Glad I posted here, that's exactly what I'm trying to do. I want to attach it to an Oly Arms 9mm upper and a Glock 19, and I want it to support sporadic full-auto fire (Burst, maybe a mag dump every once in a while) I'll look into SWR before I make any decisions.

    I wish I was closer to Pitt because I've actually never heard a suppressor and I'd love to take you up on that offer.
     
  15. trakker45

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    The Trinity is only rated for "intermittent" full-auto fire and has all aluminum baffles. Not good for mag dumps.

    The Trident is billed as a true subgun suppressor that can also be used on a pistol. It has a stainless steel blast baffle (the first baffle) and has more internal volume than the Trinity in order to withstand sustained full-auto fire. It's a little more expensive and heavier than the Trinity, but it is also more advanced technology.

    It's too bad you are so far away. I know you would get a kick out of mine. They are so damn cool, and it is so nice not having to use hearing protection at an outdoor range when no one else is around.
     
  16. ZephyrNewYork

    ZephyrNewYork
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    I learned most of what I know about suppressors at this site.

    http://silencertests.com

    There's a forum too. Join and come on in! Tell them I sent you :)


    Frank
     
  17. ZephyrNewYork

    ZephyrNewYork
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    Thanks to everyone for replying. I already formed my LLC in Nevada early this year though. All I have to do now is change my residency.


    Frank
     
  18. cgk

    cgk
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    Limited liability companies (LLCs) in PA are subject to annual franchise tax--$380/year minimum. [SEE CORRECTION BELOW] You can see the fee schedule HERE. I considered a trust (living trust, I suppose), but I think I'll actually form a PA limited partnership. With myself as a general partner and a family member as a limited partner. All I should have to pay is the $125 to file the Certificate of Limited Partnership with the PA Department of State, and no annual fees. The state even provides a form of Certificate of Limited Partnership you can fill out on line and then print. Look HERE.
     
  19. trakker45

    trakker45
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    You are incorrect, sir. The website is misleading. Call the corporations bureau and ask them about the franchise tax, like I did.
     
  20. cgk

    cgk
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    For all practical purposes, trakker45 is correct--no franchise fee on a PA LLC.

    Here's the detail. The PA Corporation Bureau web site is misleading. The $380/year minimum fee it notes is only for a professional LLC and would not apply to a LLC formed to hold title to assets, such as a suppressor. The franchise tax does, however, apply to such a PA LLC, although it is being phased out through 2010. For any PA LLC that conducts modest business, however, it's not a factor. The annual tax is currently at a rate of 4.89 mil and it applies to the sum of (a) five year average net book income divided by .095 and (b) 75% of net worth less $125,000. So, in short, no annual cost for the use of a PA LLC such as the one we are discussing.

    Thanks, trakker45!
     
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