Under the National Firearms Act of 1934 full auto firearms are required to be registered with the ATF. In order to register, you must have a tax stamp. To obtain the tax stamp, you must pay the ATF $200. The ATF will ask for some additional paperwork including fingerprints and a photograph - basically everything they need to do a background check. In conclusion: you can own a full auto if you pay the ATF $200. They will send you a "tax stamp" to let you know it is legal for you to possess the firearm in question.
The main issue with full autos is that the registry was closed in 1986; meaning no fully automatic firearms made after 1986 can be registered. So to obtain a full auto today, you have to find a full auto made before 1986 and convince the current owner to sell it to you. The limited supply means you will pay a pretty penny for a full auto firearm today.
There are 175,977 transferable full auto weapons in the NFA registry.
Hence, the reason for the high price. Prior to 1986, you could pay the $200
tax stamp and purchase a full auto AR-15 (yes, the original designation) for
around $800. Nowadays, $25,000 to $35,000. If for some reason, the
registered receiver gets damaged beyond repair.... that one is gone. Forever.
Yep. They are classified as "other destructive devices".
Besides the cost of purchasing an operable one, finding ammo is the problem.
@Dr.Brown wins the internet for a day.... for his find on armslist.
Is that what the liberals mean, when they say you can buy guns off the web ?