In KY, it is 40.00 to start an LLC with the Secretary of State's office. 15.00 a year for annual reports, and 175.00 annual minimum tax.
In KY Trusts are NOT registered with the SOS and they are not taxed.
My advise is to strongly consider a trust. all you need is to have a nice collection of toys in an LLC and accidentally forget to file your annual report. BIG NFA infraction occurs if you do or don't do anything to disrupt the corporate vail.
Trusts, at least in KY, don't have this problem.
I spoke with a retired ATF agent, Wally Nelson, at the Shot Show University about the "Loop hole" of members of LLC's and Trustees NOT being vetted by the FBI. He asked around and emaild me the following information:
"Good morning John. I hope you had a great SHOT Show.
I followed up on your question about Form 4473 NICS checks on trust and corporate officers obtaining just an NFA weapon with both ATF and the FBI. Of course I did this without mentioning anyone's name.
The GCA imposed requirements for a NICS check provided and exception for the transfer of an NFA firearm. So you cannot be required to conduct a NICS check on the transfer of a NFA firearm to an officer of a trust or corporation even though they also did not submit fingerprints to the ATF NFA branch either.
ATF is well aware of this situation. When the Brady Act was passed in 1993, it appears that the issue of trusts and corporate NFA transfers was not considered.
An FBI representative at its booth confirmed for me the fact that a NICS check in connection with the transfer of an NFA firearm would not violate its regulations.
Therefore you can conduct a NICS check on an officer of a corporation or a trust, but the GCA does not require it.
Hope this answers your question.
Wally Nelson"
I thought this was interesting and MAYBE a lead to what will be required in the future.
A New check box on the NICS e check site for NFA checks..........