I visited the ATF site to get a reference, but couldn't wade thru the complex cross-referencing. I do not believe an FFL is needed just to make bullets, but state laws concerning working with lead, having a manufacturing and retailing business, and the federal 10% 'sporting tax' make things difficult. I'm sure there's more than a few businesmen on this forum that can help you with specifics, but for legal questions I'd spend time reviewing the ATF regulation, and your state firearms regulations themselves.
Later: I took a look at Tital 27, US Code, section 178.11 and 178.41. The law defines bullets as Ammunition, and manufacture of ammunition for sale requires a $10 annual licence (Class IV FFL??) The exceptions are armor percing, explosive, and antique arms bullets. The biggie about that licence is not the cost but the background check. 8)
In order top have a business in bullet making for sale you must have an FFL, cost $10.00, but also have al the proper state and local licenses. That’s just to make bullets. Contact the BATF for the FFL form then be ready to apply for the state and/or local licenses within 30 days. Have fun.
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