New FFL Restrictions in latest bill - S.2938 - "Safer Communities Act"

[SharpDog]

I will retire soon and may want to sell some or all of my many firearms to help fund that retirement. Inflation being what it is, I may earn a profit on all of them.

Hypothetically, If I sell a number of firearms to amount to 25% - 30% of my annual income for example, will I be required to register as an FFL ?

I realize that the answer is likely subjective and may not be fully answered but informed opinions of the experienced minds here are welcome.



https://www.rpc.senate.gov/legislative-notices/s2938_the-bipartisan-safer-communities-act

I also realize that no one here is my lawyer and if I need actual legal advice I should hire a lawyer. (@Spats McGee ) I'm just asking whether I should worry enough to hire a lawyer and, considering the potential undefined subjectiveness of the issue, would it do any good.

 

[Mauser fan]

That is a very good question. You would certainly enter a very grey area. That is exactly the type of venture that I have been avoiding for sometime now. Because I personally don't want to become a non-paid government tax collector. Meaning firearm transfers.

 

[hso]

Inflation being what it is, I may earn a profit on all of them.

Is it a "profit" if you adjust for inflation?

 

[Slamfire]

Your local BATF office will be the one to contact. They will be the ones arresting you if you cross over some "line" that was drawn by their chain of command. And since the chain of command is currently a Woke Anti Gun President and Woke Anti Gun Congress, they may demand that all sales go through an FFL and have background checks.

 

[RKRCPA]

Did you buy the gun with the intention of reselling to predominately make a profit? Or did you buy it to use over a period of years and are now divesting yourself of privately held firearms?

 

[dogtown tom]

I will retire soon and may want to sell some or all of my many firearms to help fund that retirement. Inflation being what it is, I may earn a profit on all of them.

Hypothetically, If I sell a number of firearms to amount to 25% - 30% of my annual income for example, will I be required to register as an FFL ?

I realize that the answer is likely subjective and may not be fully answered but informed opinions of the experienced minds here are welcome.
....

It's not really subjective.
Your link is to a synopsis of the bill, not the actual bill.
Here is the full text:https://www.murphy.senate.gov/imo/media/doc/bipartisan_safer_communities_act_text.pdf
Page 32 addresses your concern:

‘‘(22) The term ‘to predominantly earn a profit’ means that the intent underlying the sale or disposition of firearms is predominantly one of obtaining pecuniary gain, as opposed to other intents, such as improving or liquidating a personal firearms collection: Provided, That proof of profit shall not be required as to a person who engages in the regular and repetitive purchase and disposition of firearms for criminal purposes or terrorism.

 

[dogtown tom]

That is a very good question. You would certainly enter a very grey area. That is exactly the type of venture that I have been avoiding for sometime now. Because I personally don't want to become a non-paid government tax collector. Meaning firearm transfers.

It's not grey in the least.

 

[dogtown tom]

Is it a "profit" if you adjust for inflation?

He's liquidating his personal collection, whether he profits is irrelevant.

 

[dogtown tom]

Your local BATF office will be the one to contact. They will be the ones arresting you if you cross over some "line" that was drawn by their chain of command. And since the chain of command is currently a Woke Anti Gun President and Woke Anti Gun Congress, they may demand that all sales go through an FFL and have background checks.

1. The local ATF office is the last place to ask such questions.
2. "Chain of command" is a nonsensical term and has nothing to do with anything.
3. You should take fifteen minutes and read the bill. When you do you'll note it mentions nothing about universal background checks or a requirement for all sales to go through an FFL.

 

[SharpDog]

Your local BATF office will be the one to contact. They will be the ones arresting you if you cross over some "line" that was drawn by their chain of command. And since the chain of command is currently a Woke Anti Gun President and Woke Anti Gun Congress, they may demand that all sales go through an FFL and have background checks.

I would do the background checks through an FFL. Prolly keep records on a computer.

Did you buy the gun with the intention of reselling to predominately make a profit? Or did you buy it to use over a period of years and are now divesting yourself of privately held firearms?

No I bought all of these with the intention of never selling them. About half have been fired and half are for my collection. Any I would sell I would have had for at least 10 years, some more like 50.

 

[mrmeval]

Guy Relford is an attorney who did an enormous job getting Indiana constitutional carry passed. I just missed most of his show on the "safer communities act" and the podcast won't be up for a month. You could send an email and ask for a link to his take on it. What I did hear he sounded a bit ticked off yet he did so with restraint.

He has a Saturday show starting at 5pm eastern and you can stream it. He's very good. This is from the contact information on WIBCs website. I think he has a business interest with Indy Arms.

https://www.indyarms.com/guy-relford/