bought a truck, formed an llc, want to lease on--complicated questions

If the construction company is also a DOT licensed motor carrier, as you say, then they can handle the paperwork--insurance, IFTA, and other stuff, as far as I know. If they hire the driver, they will almost certainly have to supervise the insurance and other DOT required stuff for the driver. If you have your own authority though, it could be better to handle as much of this stuff as you can through your own accounting system, otherwise the construction company will reduce your profit in order to handle this stuff. All trucks have to pay HUT, IFTA, and registration fees, although your construction company might calculate these costs for you. You can arrange a contractual arrangement if you have a contractors authority, no problem.

 

If you are "leasing" the truck to the company then they are going to set everything up with exception of bobtail insurance and possibly physical damage. All other stuff will be handled by company. Now who pays for these other items is negotiable.

Regardless of who hires and pays driver, the company is responisble for making sure driver is qualified and maintaining driver file.

Plates - I would suggest that you get the plates yourself rather than through the company. That way if something should ever happen, you own the plates and don't have to worry about getting that done.

Same can be said for getting own bobtail and pyhsical damage policy. It is in your name, isn't removed if you leave and you know the premiums are being paid and/or misapplied.

 

If you lease the tractor to THE CONSTRUCTION CO, it will be operated under their DOT number, authority, etc. so you put their name on the door. If you also have your ID on the side then you need to have 'operated by' -or- 'leased to' above their name...

You do not need your name on the truck.

Look at Part 376 for the lease specifics...You should be able to get a boilerplate lease copy form someone and use it as long as the specs meet Part 376.