A 15% Buyer's Premium will be added to the final Sales Price. All applicable taxes will be assessed based on the sum of the sales price and buyer's premium.
Frankford Arsenal Model XM-177 Class III 5.556MM M16 Rifle. Serial# FA0503
This lot is covered under the National Firearms Act of 1934 which includes… (Suppressor/silencer, Machine gun, Short barrel rifle (SBR), Short barrel shotgun (SBS), Any Other Weapons (AOW), or a Destructive device (DD) and requires YOU to PASS an additional background check and pay a special tax, via what is commonly known as a tax stamp (NFA Tax Stamps) in order to legally own and possess it.
Once you have PURCHASED and PAID in full for your item, the process has just started. Your licensed FFL dealer who is handling the transfer will keep possession of the firearm until you have received your NFA tax stamp.
- You begin this process by filing an , the Application for Tax Paid Transfer and Registration of a Firearm.
- Following the instructions on the application, you’ll attach a few pieces of extra information, including fingerprint cards and a passport size photo.
- Mail the finalized application to the BATF with a check for $200.
If you pass the background check, in time, you will receive back from the BATF a copy of your application with a canceled NFA tax stamp attached.
Yes, you read that right. The form will have a stamp that resembles a postage stamp and it will have a cancellation mark imprinted over the stamp. The canceled stamp is proof that you have been approved by the BATF to own the weapon identified in the application.
At this point, you are free to visit the firearms dealer to take possession of your new weapon.
If you are denied, you CANNOT legally own the firearm or suppressor that you bid and the dealer cannot transfer it to you. You also cannot receive any refund of any monies paid… you can however, sale your interest to a non-related party and if they are able to obtain a NFA stamp, they may pick-up and OWN the firearm or suppressor you originally bid on.
Additional Notation: This item can only be viewed at gun dealer location and will not be at any open previews... 2001 S Main, Anderson, SC 29624
Bidder permission request…
By clicking below, I acknowledge that I have read and understand the Terms and Conditions of this auction and all supplements regarding pickup, shipping, and sales tax.
I understand that, this auction has a specific schedule for pick-up of items and that if I do not pickup items… this could result in additional fees for either a delayed pickup or loss of items without refund.
If I elect to have an item shipped it could take up to 10 days after the close of the auction for those item(s) to be prepared for delivery. The final cost for delivery is mine as the bidder. If later you elect to pick up and cancel your shipping, you will be charged the appropriate delayed pickup fees.
Lastly, we collect sales tax on all applicable items based on the location of the items you bid on… whether it is shipped or not, unless you have a tax-exempt certificate and complete the exempt form.
I therefore, respectfully request permission to bid, and agree to abide by the full terms as well as those denoted herein.
Anderson, South Carolina 29624
Friday, October 7th 10-4
Saturday, October 8th 10-12
This auction is one of the biggest and most special gun and collectibles auctions we've ever done. This auction includes rare firearms such as a Colt U.S. Navy Thompson Submachine Gun, and a Frankford Arsenal Model XM-177 Class III 5.556MM M16 Rifle among others. This auction is also filled with rare gold and silver coins, silver bullion and many other incredible items for you to bid on. Don't miss out on all of the ammunition and knives as well! The preview for this auction will be a SHOW STOPPER! Don't miss it!
Sales Tax Collection
The Supreme Court Ruling.
With the most recent Supreme Court Ruling (South Dakota vs Wayfair) the burden to collect sales tax and send it to the appropriate agency has shifted directly to the auction company and the penalty for not collecting the tax and sending it to the correct agency lies directly on our shoulders.
What Is Sales Tax?
Sales tax is a point-of-purchase charge that is paid by the purchaser and remitted by the seller to the applicable state and/or local tax collection agency.
Sales Tax Exceptions
There are exceptions to every rule and sales tax is no different. In our state, it’s simply a matter of the purchaser who meets certain qualifications, completing a sale tax exemption agreement which states that they qualify for exemption according to one or more items from a list of pre-determined rules. This list is usually based on the state that you reside in or on the type of business you are engaged in. When completed and returned to us… any applicable sales tax is not collected at the time of purchased and any future taxes due become the responsibility of the purchaser based on the type of exception you maintain. The exemption forms you provide us, is renewed each calendar year and kept on file with our firm and is supplied to the appropriate agency upon request.
Tax exemption forms can be downloaded, completed and e-mailed to email@example.com.
In order to reduce the difficulty of when to collect sales tax and/or who to send it to… our auction terms for participation in our auction(s) now designates that the “point of delivery” for any item(s) purchased from us … no matter what method of purchase is used… is the address location of the item. Even if you are having an item shipped to you… the point of acceptance by the delivery agent will be considered the Delivery Location that the item was shown in the auction information as the “auction location” or “auction site” and the approximate sales tax or that location will be charged, collected and sent to the appropriate agency. No Refund of sales tax will be made once those money’s have been reported and paid to the state agency.
Therefore, all Non-titled items purchased (Unless a Sales Tax Exception Agreement is on file) will be charged sales tax based on the address listed as point of delivery. Since titled items usually require the purchaser to pay other fees and/or the difference in taxes that our state collects… we will NOT Charge tax on the sale of items which have a title. Any and all taxes associated with this type item will be the full responsibility of the purchaser to report as wells as the payment of the tax due by you in accordance with your states rules and regulations.