Ok, i have been trucking for about 6 years and tried the lease/purchase thing and crashed and burned. NEVER AGAIN will i lease a truck, however, I can say that my credit score has improved over the last few years and i am going to finance a truck through a dealership. My father in law has his own authority and told me to run under him. I got my own LLC through the IRS so here is my question. If i leased on to him. Can i put the name of my LLC on the door of the truck and put leased to (company xyz) on the lower rear of the cab? My other question is. How do i go about getting info on obtaining my own authority. Not worried about the price of it, just how to get it.
My Authority
Discussion in 'Experienced Truckers' Advice' started by EasyMoney025, Sep 27, 2012.
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1. Yes you can put your LLC name on the door and his company as the leased to information.
2. Here's a starting place to learn about getting your own authority: http://www.fmcsa.dot.gov/registration-licensing/online-registration/onlineregdescription.htm
Also see this thread: even though it is a little out dated: http://www.thetruckersreport.com/tr...-operator/13608-so-you-want-own-your-own.htmlStarboyjim Thanks this. -
According to FMCSA regs, you can put your company name on the truck, but to do so, you must put "Operated By" immediately over the Carrier's name and info.
http://www.fmcsa.dot.gov/rules-regulations/administration/fmcsr/fmcsrruletext.aspx?reg=390.21
§ 390.21Marking of self-propelled CMVs and intermodal equipment.
(a) General. Every self-propelled CMV subject to subchapter B of this chapter must be marked as specified in paragraphs (b), (c), and (d) of this section, and each unit of intermodal equipment interchanged or offered for interchange to a motor carrier by an intermodal equipment provider subject to subchapter B of this chapter must be marked as specified in paragraph (g) of this section.
(b) Nature of marking. The marking must display the following information:
(1) The legal name or a single trade name of the motor carrier operating the self-propelled CMV, as listed on the motor carrier identification report (Form MCS-150) and submitted in accordance with §390.19.
(2) The identification number issued by FMCSA to the motor carrier or intermodal equipment provider, preceded by the letters "USDOT."
(3) If the name of any person other than the operating carrier appears on the CMV, the name of the operating carrier must be followed by the information required by paragraphs (b)(1), and (2) of this section, and be preceded by the words "operated by."
(4) Other identifying information may be displayed on the vehicle if it is not inconsistent with the information required by this paragraph.
As to the steps of getting your own authority, why not ask your father-in-law, since you said he has his. He would be a first hand source for information. -
Where can I get one of those?
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The first thing to do before getting your own authority is to join OOIDA and call them. They can make the process of getting it faster and smoother. In my opinion.
You said he was your father in law. That means you are operating under his daughter's authority at home, so on the road get your own authority. Put your foot down and drive the women back to the kitchens where they belong. -
that'll happen
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Get one of what?
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Did you really just go there????? Really????
Start with FMCSA and get the ball rolling with them . . . AFTER you have your business and business checking account set up, FEIN, etc. Once you have your LLC, business account and Federal tax ID number, start the process with FMCSA . . . Here's a thread that will help you out some as well. That was put together with the assistance of a couple of other members that have been though the set up process already. http://www.thetruckersreport.com/tr...becoming-owner-operator-steps-forms-info.html
Even though you aren't that interested in cost, not counting your truck and trailer, you're looking at $5k to $10K depending on your state, insurance rates and a few other factors, to get your own authority.Starboyjim Thanks this. -
Truck, trailer, cargo.
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