Should've been more clear...
A) my partner is an attorney and B) we are hiring outside counsel to setup the firm so there is no conflict.
The LLC is a foregone conclusion as a partnership sub-type. However, my partner and our counsel are not versed in the intricacies of FFL law - so, that's the reason for the request.
I'm looking for cites or directions that they can research (and earn their law degrees!
) so as to make life more efficient.
Hope this helps and gets it back on track for me. Thanks everyone for chiming in, in any event!
BR is spot on - the pierced veil concept completely dissolves any "force field" applied by the magical and mythical C/S/LLC. In order to avoid the consequences of the piercing, a business must be totally separate from personal assets, and have absolutely not a hint of tie into the personal life (i.e. forming an LLC to save on taxes so that you can write off that plasma you just bought - you know, the one that is a presentation device in conference room L).
Furthermore, most liability protection to be had by forming a proper company is in the business/financial side. The main reason for this thread is to dig deeper - what are the other implications and are there any clauses to be had in the articles/formation that help protect this entity and ultimately ourselves?
Lastly - there is no retail inventory to speak of in this business model. As stated above, primary sales will be LEO/LEA and the remainder will be imports - my partner's specialty is imp/exp. And hopefully, we'll be able to offer these services to our community, THR especially, within the next six months.
Cheers.