Yes, Josh is correct. In the gun world people are listed as FFL type/SOT type, so a NFA dealer is a 01/03 since he has a Type 01 FFL and a Class III SOT status. Here's a link to the different FFL types and what they can do:
FFL Types
I formed a LLC for my business and have my Type 07 FFL (normal dealers are Type 01) for manufacturer of firearms pending. Once I have that in hand, I pay a $1000 Special Occupational Tax Class II (SOT 2) and this allows me to manufacture NFA weapons including machine guns, sound suppressors, short barreled rifles and shotguns (but not in MI), and "any other weapons" (but not in MI).
In doing so, I can make any NFA weapon I want, except destructive devices, that's a separate FFL and SOT tax. I will be making M16 weapons in both full auto and burst fire and I will be making my own line of sound suppressors. In MI, I can't make short barreled weapons or AOWs. I can make machine guns with less that 16" barrels legally in MI because the fact that it is a machine gun "overrides" the fact that the barrel length is less than 16". I can put any barrel length on a machine gun, because the receiver is registered or the sear is registered.
I have to keep a bound book and file a Form 2 every time I manufacture an NFA weapon, within 24hrs. I will be a manufacturer, so there isn't the $200 tax every time I make a NFA weapon, just the yearly SOT tax of $1000 ($500 if my sales the prior year were less than $500K). If I get extra bored, I can make an M16, mail out the Form 2 to the ATF, and go shoot it.
I'm dropping the bullet casting operations soon and will be concentrating on firearm and ammunition manufacturing. I will be making Title I and Title II firearms and will be handling NFA weapon transfers in the Keweenaw Peninsula of the UP. I will also be doing Title I transfers in the area and as I build inventory will be able to ship firearms to your dealer. As soon as I get my 07 FFL, I will be offering my own line of AR15 stripped lower receivers (Title I semi auto).
For my demo machine guns, the selector switch position labels aren't going to be the boring SAFE-SEMI-FULL AUTO. I'm making it "BORING-FUN-WOOHOO!!"