This thread is to provide information on the process of becoming an Owner Operator and links to the necessary information.
This thread will be kept locked to keep it as a source of information.
If anyone has information they would like to see added or that would be helpful, please PM the information to me to have it added. I welcome helpful information from members, especially on the individual states!
The order of the steps and the expenses to consider were based on my hubby and I getting him into his own truck.
Becoming an Owner Operator - The steps, forms and info
Discussion in 'Ask An Owner Operator' started by Lilbit, Sep 1, 2010.
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The practical steps for the planning stage
1. Decide on the legal entity for you company sole proprietorship, LLC, etc, then set up according to your states requirements.
2. Start writing your business plan - even if you are not going for financing, a business plan helps you firm up your thoughts and plans and gives you a guide to follow.
3. Obtain federal and state tax ID #s
4. Set up any phone or fax lines needed if needed
5. Open a business bank account
6. Purchase/obtain business cards, forms, etc that you will need
7. Purchase truck and trailer
8. Purchase insurance, set up Process Agent
9. Pay Heavy Highway Use Tax
10. Obtain Operating Authority and Fed DOT number
11. State IRP, IFTA, Operating Authority, UCR, etcLast edited: Sep 1, 2010
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Costs to calculate into your plans. Some of these may not apply in your case.
Truck
Trailer
Federal Operating Authority
State Operating Authority
Insurance - liability, load, bobtail, business
Vehicle Registration
Trailer Registration
UCRA
Heavy Highway Use Tax
Incorporation costs
IFTA
Fuel
Maintenance & Repairs
Annual Vehicle inspections
Permits
Tolls
Fed Med exam & drug testing
Accountant
Tools
Computer, printer, scanner, software
WI-FI
Personal, Business, and Self-employment taxes
Load Board SubscriptionsLast edited: Sep 2, 2010
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Links to forms and info at FMCSA's website
ETA Book - covers safety info and includes forms. A 'short' version of the regulations. Forms include all forms needed for a driver file, vehicle maintenence, accident records, etc. There is a downloadable pdf link on this page so you can download the entire book.
FMCSA Steps to complete - FMCSA's steps to obtaining your operating authority. This refers to over the long term, not the basic process of getting the authority so that you can operate.
Safety & Security page - Links to information on safety including drug & alcohol testing, load securement, and other useful links.
Registration & Licensing page - Links to information on licensing and registration.
Required Registration forms - a breakdown of the forms needed and when the are needed.
Online Registration page - starting point for obtaining your Operating Authority and DOT # online.
Downloadable Registration forms - links to pdf files of the downloadable registration forms. You must have Acrobat Reader to access these files.Last edited: Sep 1, 2010
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The Compliance Review
The link above is a FAQ page that provides information on the New Entrant Compliance Review.
This is a topic that comes up a lot lately. The compliance review will include but is not limited to: Driver qualifications, driver duty status, vehicle maintenence, and drug and alcohol testing requirements.
They are looking at your record keeping and office practices to put it is easy terms. The state of Wisconsin has a helpful booklet that they send out (can also be obtained online) to give O/O's an understanding of what they will be looking at. With the forms in the ETA book above, and checking out the drug and alcohol testing information at FMCSA, you will be able to make it through this review.RockinChair, Lonestar16, abdersj and 9 others Thank this. -
Heavy Highway Use Tax
Her are the links to the Form and Instructions for the Heavy Highway Use tax.
Also, the page to get your Federal Employer ID number. Needed for any form of business other than self-employed with no employees.RockinChair, abdersj, feywolf1 and 11 others Thank this. -
G/MAN posted this in another thread, and I decided to copy it into here! More helpful info!
TexasKGB, 3Peter7bilt9, RockinChair and 44 others Thank this. -
Link to another really useful post by G/MAN!
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Here's another useful thread from this post on! Some very useful and helpful info from this guy!
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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