Today the President is expected to use an executive order to further close the so called Gun Show Loophole, as well as add more restrictions for those trying to purchase a firearm legally. (Those who are trying to obtain a gun illegally will not be impacted by these actions…)
The media seems to imply that people who attend a gun show can just buy anything they want without any sort of background check. That’s not true, of course. The only loophole, and I use that term reluctantly, is that a person who is not “in the business of” selling firearms can sell a gun to someone else without having to do a background check.
According to some, the only real issue is that the ATF refuses to define what it means to be in the business of selling guns.
I can fix that. If you sell enough guns that you are required to pay taxes on your profit, then you are in the business of selling firearms. And should then require a license, and do background checks, etc… That’s it.
If you have a few guns you need to sell in order to pay some bills or raise some money, then you can do so without the red tape. But if you are buying guns and reselling them for a profit greater than the minimum required to pay taxes (I think that’s $600 annually right now.) then you need to fill out the paperwork and do what the law requires.
Sell a gun to your buddy, no issues. Make a profit selling guns to people, file the paperwork.