So you want to "own " your own company

Thank You Sir

 

Unless you pay cash for the year, most insurance companies will require 20-25% down and the balance paid out over about 9 months. There are a few that will allow you to only pay a 12 month premium. The down payment is actually your monthly payment. It is easier to budget when you have equal monthly payments.

 

Progressive has said they wanted two months premium to start a policy or the full year at a discount of about two months.

 

I was actually speaking with an agent that writes for Progressive - who told me the same thing - re: discount for payment in full.

Progressive rates pretty much on CREDIT RATING (not necessarily a great one - but not a BAD ONE, i.e.: delinquencies, over-extended, etc.) and MVR - versus length of authority. They're not the least expensive, but very well rated as far as "acceptance" by shippers/brokers.

Right now, they're one of the few that will actually underwrite a brand-new authority.

Rick

 

You can also start the policy for two months payment and still get the discount if you can pay the balance in the first billing cycle i was told

 

So I finally got my finances squared away to buy 03 kw w900L outright. Then I ran into another snag. I have no DMV corp code to register in company name so I couldn't bring the truck home from the dealerships lot. I've tried to read about being a O/O and be as knowledgeable as I can but as they say the best knowledge is experience!!!

 

So you had to go to the IRS.gov website and get yourself an EIN number?

 

No, he has to pay the $500 or more yearly corporate tax to do business in NJ. Any trucking company, no matter how small, has to pay it if you pick up or deliver in NJ. It can be very costly if you try to evade it as well.

 

and a 2290 tax...


And....

and.....


####, where do they stop gouging us....

 

Got that when I was getting my LLC.