There's all kinds of reloading for profit around here :http://www.ksl.com/index.php?nid=218&ad=10353715&cat=379&lpid= and I doubt they are legal. I wouldn't shoot non-factory ammo from a stranger if he gave it to me.
Regardless of legal/liability issues, I won't reload for 'friends'. If my reloads were to damage a friend's gun or maybe worse, where can you go from there?
Manufacture, yes. Sell, no.It would be illegal to sell ammo without a FFL license.