Llc for new oo in California

Discussion in 'Ask An Owner Operator' started by bootchain, Nov 15, 2019.

  1. bootchain

    bootchain Bobtail Member

    7
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    Nov 12, 2019
    California
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    hi everyone,

    Im a new oo. Since the new ab 5 law is going to take affect next year i will need to create an llc.

    Currently im using my companies numbers, insurance, and fuel card to operate til the end of the year.

    Could you guys direct to a website that will help me prepare for an llc?

    Also, is it necessary to get my own fuel card or is paying cash a better route?
     
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  3. Ridgeline

    Ridgeline Road Train Member

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    Get a lawyer and an accountant to help you set it up.

    You may want to look at s or c corp. llc won't protect assets.
     
    bootchain Thanks this.
  4. The Biggest Dawg

    The Biggest Dawg Light Load Member

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    That's false.
     
    bootchain Thanks this.
  5. Mike250rs

    Mike250rs Heavy Load Member

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    If you can pay the bill every month, credit cards make fuel purchase tracking easier come tax time. No need to keep those pesky fuel receipts, a wad of cash on hand and/or fuel advances
     
    shatteredsquare and bootchain Thank this.
  6. tnevin225

    tnevin225 Road Train Member

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    A Credit card for fuel ? I bet your overpaying at lest 3-5k a year for fuel. Get on with NASTC and start saving up to 40 cents a gallon.
     
    Rounded_nut Thanks this.
  7. SoCalRed

    SoCalRed Medium Load Member

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    If you are the driver you and your company will be named in a lawsuit if you end up in an accident. So llc, s Corp or c Corp it makes no difference.
    Talk to your accountant what the best option for you will be as far as taxes go.
    If you have your own authority ab5 does not affect you.
     
    dosgatos, Cat sdp and bootchain Thank this.
  8. truckdriver31

    truckdriver31 Road Train Member

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    and a uhaul
     
  9. dosgatos

    dosgatos Medium Load Member

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    You can file your llc online at the secretary of state website. $70.
    Then a state agent for $40.
    Next April 15 you'll pay $800 to the franchise tax board for having an llc if you use it or not.
    DOT and MC at fmcsa online $300.
    UCR online $63.70
    BOC-3 $30 if you run interstate and need state agents.
    IFTA stickers $12
    Apportioned Plate with irp filings if interstate $1800? Otherwise a state plate with stickers for intrastate.
    Insurance
    California MC number from the chp then mcp filing with the dmv.
    Sign up with a consortium for ua tests.
    Put together your driver qualification file.
    2290 hvt
    Fuel discount card
    Trailer
    Vehicle inspection
    Good times
    Big fun


    If you stay intrastate you can get your dot numbers through the state.
     
  10. Tx Countryboy

    Tx Countryboy Road Train Member

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    Guess that's the advise from someone that says they came off the road 5 years ago & he only does a local thing 1 day every now & then.
     
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