You’ve seen us mention the National Firearms Act, or NFA, more than a few times in our past several posts. Today we’re going to explain a little more about the NFA and the importance it plays in your firearms ownership.
The NFA handles the purchase, transfer, and creation of Title II firearms. These firearms are often termed NFA firearms or Title II firearms. “Class 3” refers to Special Occupation Tax (“SOT”) stamp that is necessary for firearms dealers to sell these weapons. “Title II” refers to the NFA.
There are six distinct types of NFA weapons (Title II Weapons):
- Machine guns include any firearm which fires more than one (1) round for each individual pull of the trigger.
- Short Barreled Rifles (SBR) are rifles with barrels less than 16” long.
- Short Barreled Shotguns (SBS) are shotguns with barrels less than 18” long.
- Silencers (Suppressors) Any Other Weapon (AOW) includes weapons and accessories that don’t fall into a category above. Examples include wallet holsters and pen guns
- Destructive Devices (DDs)
What is the Purpose of the NFA?
The NFA imposes a tax on certain weapons, although, the creation of this was not to create a source of income. This tax was originally created to discourage the use of NFA weapons in gangland crimes. In order to decrease the crime rate, the NFA created a $200 tax on the creation or transfer of NFA weapons. The $200 transfer tax still exists today.
History of the NFA
In 1934, the National Firearms Act started to regulate the manufacture and sale of certain firearms. Owners of the NFA firearms had to register their weapons with the Secretary of Treasury. After this enactment, a holder of an unregistered NFA weapon violated state laws. If the owner attempted to register the weapon, the state could be alerted and the gun owner could be prosecuted for possessing the firearm. The Gun Control Act occurred in 1968 effectively expanding the recordkeeping and licensing requirements. This act also prohibited the use of this information as evidence for a criminal proceeding. Furthermore, this act expanded the definition of machine guns and destructive devices. The Firearms Owner’s Protection Act took place in 1986. This act added to the definition of a “silencer” to further include any components that intend to or can be used as a silencer. Excepting those firearms lawfully owned before May 19, 1986, this act also barred the transfer or possession of machine guns.
Knowing the importance of the NFA is just one small piece of creating a Gun Trust. At McChain, Miller, Nissman, we make it our priority to know this information. To set up a Gun Trust with a knowledgeable, responsible attorney, give us a call at 501-221-7776.