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Leasing onto company

Discussion in 'Ask An Owner Operator' started by mitmaks, Oct 21, 2016.

Page 1 of 3
  1. Oct 21, 2016 #1
    mitmaks

    mitmaks Road Train Member

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    Im trying to lease onto current company I work for and need help as to what is needed to get me going. Do I have to setup my own LLC, UBI number, EIN, etc. Seems like its just too complicated, have to jump through many hoops just to get business license.
     
    mitmaks, Oct 21, 2016
    mitmaks, Oct 21, 2016
    #1
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  3. Oct 21, 2016 #2
    Old Man

    Old Man Road Train Member

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    Oklahoma City, OK
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    Why do you need a business license?
     
    Old Man, Oct 21, 2016
    Old Man, Oct 21, 2016
    #2
  4. Oct 21, 2016 #3
    mitmaks

    mitmaks Road Train Member

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    Company told me I need business license since Ill be my own business leased onto them.
     
    mitmaks, Oct 21, 2016
    mitmaks, Oct 21, 2016
    #3
  5. Oct 21, 2016 #4
    scottied67

    scottied67 Road Train Member

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    Usually I just sign a contract with the company and am leased on within the hour whenever the insurance gets turned on to my VIN number
     
    scottied67, Oct 21, 2016
    scottied67, Oct 21, 2016
    #4
    mitmaks Thanks this.
  7. Oct 21, 2016 #5
    mitmaks

    mitmaks Road Train Member

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    yeah, I thought it would be simpler than that. I was told I need EIN tax identification number as well but I have to have business license to have one. And to get business license I need to register a business name=its a domino effect.
     
    mitmaks, Oct 21, 2016
    mitmaks, Oct 21, 2016
    #5
  8. Oct 21, 2016 #6
    scottied67

    scottied67 Road Train Member

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    california norte
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    All you need for an EIN number is a SSN number and the phone number or website for the IRS and file it for free. You will need the EIN number to pay your 2290 tax is all.
     
    scottied67, Oct 21, 2016
    scottied67, Oct 21, 2016
    #6
    mitmaks Thanks this.
  9. Oct 21, 2016 #7
    Ridgeline

    Ridgeline Road Train Member

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    What is the company?
     
    Ridgeline, Oct 21, 2016
    Ridgeline, Oct 21, 2016
    #7
  10. Oct 21, 2016 #8
    DeadArmadillo

    DeadArmadillo Light Load Member

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    Oct 4, 2013
    Republic of Texas
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    If you are going to be the owner and operator of the vehicle an LLC will not protect you. Please do some deep research or seek professional help in setting up your business.....please.
     
    DeadArmadillo, Oct 21, 2016
    DeadArmadillo, Oct 21, 2016
    #8
  11. Oct 21, 2016 #9
    Old Man

    Old Man Road Train Member

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    Apr 3, 2009
    Oklahoma City, OK
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    What state is company in?
     
    Old Man, Oct 21, 2016
    Old Man, Oct 21, 2016
    #9
  12. Oct 21, 2016 #10
    mitmaks

    mitmaks Road Train Member

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    You guys in Texas are special. Every time I drive in Texas I see billboards "hurt by big truck, we'll get you money" seems like lawyers are targeting truckers in Texas big time.
     
    mitmaks, Oct 21, 2016
    mitmaks, Oct 21, 2016
    #10
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