I will be buying my own truck within the next year and I can establish my business anywhere in the country. I narrowed it down to Florida, Texas or Nevada. I will use my home address for the authority and registration.
Obviously no state income tax in these three but what else should I consider? Sales tax on the purchase of a truck and trailer? Insurance rates much different in these states? What else should I factor into this decision?
Best state to register a trucking company and truck?
Discussion in 'Ask An Owner Operator' started by John Joel Glanton, Jan 23, 2022.
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The way I understand it it's always best to do everything in whatever your home state is.
If you attempt to have your business located in another state than you reside, you'll end up paying taxes twice to that state and to your home state. Plus I think there are other legal fees for being set up in two states.
And on top of that wherever your home address is that is where your insurance is going to rate you.
No, you cannot live in one state and pick a state where you think insurance is cheaper and try to get the insurance company to go along with that.
They are not going to do that number one, and if you tell them something untrue then if you have any kind of claim they will investigate you and if they find out you told them something untrue you will have zero coverage and whatever happens you will be completely liable.
ALWAYS be as transparent as you can be with the insurance company.noworrez, tscottme and John Joel Glanton Thank this. -
@Chinatown can tell you about Nevada.
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@Dave_in_AZ knows more about registering a trucking company in Nevada than I do. I had some notes on that but can't find them now. It was a simple procedure in some little town in Nevada. Maybe OOIDA can help.
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Sales and Use Tax - Tennessee
The sales tax is Tennessee’s principal source of state tax revenue accounting for approximately 60% of all tax collections.John Joel Glanton Thanks this.
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