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Sole proprietor to corporation

Discussion in 'Trucker Taxes and Truck Financing' started by PSM379, Dec 10, 2021.

  1. Dec 10, 2021 #1
    PSM379

    PSM379 Heavy Load Member

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    Apr 19, 2019
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    As I’m getting older, I’m finally thinking of creating a LLC or a corporation to keep business and personal separate. As of now last 10 years I have been a sole proprietor under my name. I’d like to keep my authority and put it under the LLC or corporation, move my IFTA account and insurance under it also. Is this possible with keeping the same MC number? Any advice would be appreciated
     
    PSM379, Dec 10, 2021
    PSM379, Dec 10, 2021
    #1
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  3. Dec 11, 2021 #2
    SoCalRed

    SoCalRed Medium Load Member

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    851
    Feb 7, 2017
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    You can keep your MC, but you'll have to get a new DOT#. I did it 2 years ago.
    I went for S corp.
     
    SoCalRed, Dec 11, 2021
    SoCalRed, Dec 11, 2021
    #2
  4. Dec 11, 2021 #3
    Ridgeline

    Ridgeline Road Train Member

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    Dec 18, 2011
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    Get a lawyer, you may be able to transfer the assets into the new entity.
     
    Ridgeline, Dec 11, 2021
    Ridgeline, Dec 11, 2021
    #3
    Bean Jr. Thanks this.
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