S.P., Inc. or L.L.C.???

More paperwork with an LLC, but you should talk to an accountant to see which is best for your operation.

 

I went with SP. Just easier since I am a one truck show and will not have any employees.

IF I were to ever go that route, I'd go with an S-Corp.

 

As a S.p. is there any papers you file? Do you use your soc sec number as EIN/tax Id?

 

No papers to file for SP, at least not in my state. SSN is your tax id #.

 

you file for an EIN here....
http://www.irs.gov/Individuals/International-Taxpayers/Taxpayer-Identification-Numbers-(TIN)

Yes you should get one. As a business Entity, there will be places you NEED to have that. And you do NOT want to give out your SSN.

You will have to register your "Doing Business As" (DBA) or "Assumed Name" with the Secretary of State for your respective state.
In the state of Minnesota, that is here.
http://www.sos.state.mn.us/index.aspx?page=180

 

An LLC will help protect your personal assets. Might be a good idea to call an attorney.

 

Second year law student can get around that...

 

An LLC, Corp or s-corp will not help you with any personal asset protection, this is a myth. If you are an operator in charge of making decisions, then you have a liability in the operations of that truck and business. A good lawyer suing you can pierce any protection you have, especially if there has been an accident.