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From: Alan Taylor <ataylor@NMSU.Edu>
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US FEDERAL LAW HIGHLIGHTS

1. No sales of any firearms to persons under 18 years
   of age.

2. No sales of handguns to persons under 21 years of
   age; persons 18 to 20 may buy long guns (shotguns,
   rifles) and ammunition.

3. Any firearm capable of discharging 2 or more
   shots with one operation of the trigger is technically
   classified as a "Class III" firearm (full auto;
   machinegun). The Federal government strictly regulates
   these firearms, requiring an FBI background check,
   written approval of local police/sheriff, a full
   set of the purchasers' fingerprints and a $200
   tax on the transfer. No Class III firearms manufactured
   since the summer of 1986 may be transferred to civilians.

4. Shotguns with barrels shorter than 18.5 inches (appox 47 
   centimeters) are classified as Class II firearms
   by the Federal government, which regulates them
   in a fashion similar to Class III, although not
   as strictly.

5. All firearms purchases from dealers require a Federal
   Form 4473 to be properly completed; this form must
   be retained in a bound book at the dealer and can be
   inspected by Federal agents of the Bureau of Alcohol,
   Tobacco and Firearms (BATF). 

   Questions on the form include, but are not limited to:
   "Are you a fugitive from justice?"
   "Are you an illegal alien?"
   "Have you ever been adjudicated insane?"
   "Are you or have you ever been addicted to marihuana?"
   and other, similar, questions. 

   A "yes" answer to any such questions requires the 
   dealer to refuse the sale. Lying on Form 4473 is 
   punishable by up to 5 years in jail and a fine of up 
   to $5,000. An identification card with photo (usually 
   a drivers license) must be produced by the purchaser 
   for positive ID by the dealer; the name, address and 
   number of ID (drivers license number, NOT Social Security
   number) of the purchaser is recorded on Form 4473. 
   
   When a dealer goes out of business, the bound book of 
   Form 4473's must be given to the BATF within 30 days 
   of closing the business. All bound books are held by 
   BATF in a warehouse near Washington, DC.

6. Aliens who are legally resident in the US may purchase
   firearms according to Federal law, providing they meet
   the same requirements as US citizens.

7. There are no Federal recording requirements for 
   retail sales of ammunition, smokeless powder, bullets,
   primers, etc. Black powder is classified as an explosive;
   sale is still permitted, but the buyers name and address
   is recorded in a bound book. 

8. State, county and/or city/municipality/town laws may be
   (and in some cases, are) more strict than Federal law,
   up to and including total bans on civilian ownership
   of some categories of firearms (handguns, Class III,
   etc.).