Corporation vs. Individual Ownership

**myripley** · January 25th, 2012, 10:12 AM

I am Pres/CEO of an S Corp. that I started ten years ago. Looking to purchase a suppressor. Question is : A.) Easier to use corp. for purchase (not even sure if allowable?) B.) Go the individual way for the stamp.
Welcome suggestions.

**JAS104** · January 25th, 2012, 10:24 AM

I'm 90% sure you need to go individual to get the tax stamp. I'm not really ALL THAT knowledgable on NFA stuff though.

**00boraslow** · January 25th, 2012, 02:26 PM

If you can wait they are currently in the process of removing the CLEO signature for class 3 items. I am not sure of the exact timeline, but hopefully it will be this year.

If you can not wait I would personally go the individual route in case you ever decide to close your corporation.

**Kramer** · January 25th, 2012, 09:21 PM

Although I have a LLC Corp for my NFA, I usually recommend going individual transfer route.

**ungawa** · January 25th, 2012, 09:53 PM

If you want an LLC or corp for NFA items I do not think you would want to use one that you are doing business with or have other assets with. Sort of defeats the purpose of the corp you are using for business - to isolate business liabilities from personal/member assets. Just start a new corp or LLC. Better yet, buy it as an individual as that is preferred in my opinion since you own it outright.

**mojo** · January 26th, 2012, 03:47 PM

Originally Posted by ungawa

If you want an LLC or corp for NFA items I do not think you would want to use one that you are doing business with or have other assets with. Sort of defeats the purpose of the corp you are using for business - to isolate business liabilities from personal/member assets. Just start a new corp or LLC. Better yet, buy it as an individual as that is preferred in my opinion since you own it outright.

This ^^^^^