The National Firearms Act (“NFA”) was enacted in 1934. Congress’ purpose with the NFA was to create what it believed was a constitutional means of discouraging citizens from purchasing or owning certain types of firearms which Congress asserted were the ‘weapons of choice of the gangsters’. These weapons included machine guns, short barrel rifles, short barrel shotguns and suppressors.
Congress knew it could not ban civilian ownership based on what can be learned from the debates. What it did think it could do is put a transfer tax on the purchase of such weapons. So, Congress imposed in 1934 a $200 transfer tax per transfer per firearm (or suppressor) with the primary objective of making it too expensive for individual citizens to acquire these items. Another objective was to give the federal government another means of bringing criminal charges for the ‘failure to pay a federal tax’ on gangsters.
Today, almost a century later, the NFA continues to infringe the ability of citizens to purchase or own these items. Not only is the infringement from the imposition of the tax but it also comes in the nature of the delay of a year or more in processing the tax form as well as other regulations and restrictions on the possession of these regulated items.
Yet, millions of American citizens make, purchase and/or transfer NFA regulated firearms and suppressors each year.
Many people have learned that the NFA Trust is the best way for civilians to acquire and own these items. There are many reasons why that is the case including the ability to have “multiple possessors” as well as the capacity to amend, from time to time, who the trustees and/or beneficiaries of the trust are. These are important characteristics that are denied an individual who registers and pays the transfer tax in his or her individual name.
We have been assisting citizens, including many in law enforcement, with setting up and operating their NFA trusts now for many, many years. If you would like to learn more about NFA trusts or if you are in need of one, or even in need of amending an existing one that needs updating, we can help you. Just contact us for an appointment and we can have your trust ready or amended in just a few days in many instances.