For people who don't know, this is basically a single-purpose entity for the purpose of owning certain types of firearms (usually National Firearms Act regulated items, e.g. machine guns or sound suppressors) in a way which is exempt from certain aspects of purchasing them outright (e.g. needing the approval of local law enforcement if you're a natural person making the purchase, but not a corporate entity). Trusts are also better for survivorship/transfer, and provide some limited liability or asset protection. Individual registered machine guns appreciated overnight in 1986 from $5 (a small piece of metal) to >$10k, due to regulations which forbid making new ones transferable for civilian ownership.
It's pretty similar to setting up a corporation to own/manage a single rental property, for instance to protect from liability if you own a parking lot and someone damages a car, or meth addicts burn down a condo building.
It's pretty similar to setting up a corporation to own/manage a single rental property, for instance to protect from liability if you own a parking lot and someone damages a car, or meth addicts burn down a condo building.