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Legal Name question

Discussion in 'Ask An Owner Operator' started by God prefers Diesels, Aug 10, 2020.

  1. Aug 10, 2020 #1
    God prefers Diesels

    God prefers Diesels Road Train Member

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    In your FMCSA Portal, in the company information/USDOT Registration section, is your legal name the name of your company, or is it your name? Is it the name on the door of your truck?

    I just tried to get my insurance company to file BMC-91, and they can't because the policy is under my name, but my legal name at FMCSA is the trucking company name.

    So I have the options to change the name at FMCSA, or do a policy re-write with the company name.

    Which one should I do?!
     
    God prefers Diesels, Aug 10, 2020
    God prefers Diesels, Aug 10, 2020
    #1
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  3. Aug 10, 2020 #2
    Roger.B1240

    Roger.B1240 Bobtail Member

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    It depends on your Federal ID, State Lic and City occupational permits.

    Payroll Tax forms need the business entity listed.

    Fmcsa/DOT requires proof you are register as a legitimate trucking company.

    Did you set up a LLC, S Corp or a Sole Proprietorship?

    As each is different and carries different liabilities. MUST PROVIDE PROOF OF INSURANCE.

    You should talk to a CPA before filing for a business license to operate as a independent or a company.
     
    Last edited: Aug 10, 2020
    Roger.B1240, Aug 10, 2020
    Roger.B1240, Aug 10, 2020
    #2
    God prefers Diesels Thanks this.
  4. Aug 10, 2020 #3
    Gdog66223

    Gdog66223 Road Train Member

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    Name on insurance, door, IRP, everything is your company name not your name. Your name on FMCSA is your company name so just do a policy re-write into the company name. You don't want nothing of a business in your personal name.
     
    Gdog66223, Aug 10, 2020
    Gdog66223, Aug 10, 2020
    #3
    Rideandrepair, God prefers Diesels, JolliRoger and 1 other person Thank this.
  5. Aug 10, 2020 #4
    God prefers Diesels

    God prefers Diesels Road Train Member

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    South Texas
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    I just started the process to turn this situation into an LLC today. I'm having a company do it for me.
    Edit: Right now, it's sole proprietorship. Since I'm changing to LLC, do I need to do an updated MCS-150? The name of the company will change from "Areta's Lightning" to "Areta's Lightning, LLC". If so, do you think it will change my MC number? I'd like to get my signage made.

    Okay, good. That's actually the route I'm taking. I just have to wait for the re-write guy to call me.

    Thanks for the help, guys.
     
    God prefers Diesels, Aug 10, 2020
    God prefers Diesels, Aug 10, 2020
    #4
  7. Aug 10, 2020 #5
    Gdog66223

    Gdog66223 Road Train Member

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    Change it to a LLC, Update your MCS-150, and read this link below I posted.
    Updating Your Registration or Authority | FMCSA
     
    Gdog66223, Aug 10, 2020
    Gdog66223, Aug 10, 2020
    #5
    Roger.B1240 and God prefers Diesels Thank this.
  8. Aug 11, 2020 #6
    Leftlanemilktrain

    Leftlanemilktrain Bobtail Member

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    This a little of topic of your original post but keep in mind the LLC doesn't do much good in a liability situation if it isn't run as its own company as in credit cards, charge accounts and things like that should be in LLC as well. In the event of lawsuit, if there isn't a clear separation between personal and business, your personal assets are up for grabs as well
     
    Leftlanemilktrain, Aug 11, 2020
    Leftlanemilktrain, Aug 11, 2020
    #6
    Roger.B1240 and God prefers Diesels Thank this.
  9. Aug 11, 2020 #7
    JohnSmith69

    JohnSmith69 Light Load Member

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    Hey hot stuff
     
    JohnSmith69, Aug 11, 2020
    JohnSmith69, Aug 11, 2020
    #7
  10. Aug 11, 2020 #8
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    If you are the one driving the truck in an accident, it doesn't matter how much you separate the LLC from your personal. Your LLC, as the company, could be sued as well as you, personally, being the driver.
     
    kemosabi49, Aug 11, 2020
    kemosabi49, Aug 11, 2020
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    God prefers Diesels Thanks this.
  11. Aug 11, 2020 #9
    Leftlanemilktrain

    Leftlanemilktrain Bobtail Member

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    Definitely, my bad on not pointing that out as well, thanks for the correction
     
    Leftlanemilktrain, Aug 11, 2020
    Leftlanemilktrain, Aug 11, 2020
    #9
    God prefers Diesels Thanks this.
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