Question about FFL application

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RPBrown
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Question about FFL application

#1

Post by RPBrown »

I am looking to go ahead and become a FFL, mostly to do transfers. However, in looking over the application, it asks for business name and type (INC. LLC, sole proprietor). Can I use my current business name and type (LLC) or do I have to go with a new one? BTW, I am in the A/C business and the FFL would be run out of my office.
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NewGunGuy3
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Re: Question about FFL application

#2

Post by NewGunGuy3 »

I am not a lawyer, but here’s my thoughts. Get a separate business name and organization. Whether LLC, SUB-S whatever is up to you. You can do business out of your A/C location if you want but you have liability shield between your FFL business and your other business / personal finances. If someone wants to sue you for conducting a perfectly legal transaction to someone who ends up “doing something bad,” they can’t potentially take everything from you.
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