In 1934 when the NFA was enacted, current possessor of full auto weapons had to register them, but did not have to pay the $200 tax. It was a
transfer tax. If the owner later sold the registered gun, the new buyer had to pay the tax.
So how does it work, legally, to make current owners pay a
transfer tax? ? ?
Also, if one has 5,000,000 AR-15 magazines, and not a one of 'em has a serial number, how does registration work in
this situation? ? ? ? ? ?
Inquiring minds want to know ......