Help and advice on getting out of the business

Not yet! What are you asking, how to sell your equipment? I'd try truckpaper or craigslist. Do you have your own authority? I've read that it's better to cancel your insurance so your authority goes inactive than to cancel your authority outright, it apparently triggers an audit. That's just hearsay, I've never had my own. IFTA, KYU, etc, I think you have to notify them that you're closing your account unless you want to keep filing quarterly returns with a bunch of zeros on them. Are you a member of OOIDA? I'd call them and talk to the member services folks and see if they have some guidance.

 

I would imagine it would be no different than closing a business- I'm sure you'd have to put your Authority on "inactive' or whatever term they use.

 

just stop paying the insurance and call them up and cancel it they will cancel your insurance and notify the dot and it would put your authority on revoked status. if you write and voluntarily ask it to be revoked you will get audited .......no reason to pay if your not gonna use it

scrape your ifta sticker off best you can and mail it and your cab card back to the state also same with your other permits

 

I can't answer your question Christank, but try not to be so impatient. There are a LOT of O/Os on here who will try to help you out, but you have to give them time to SEE your thread first. They can't be turning those wheels and on here at the same time. Uh at least I hope they aren't.

 

Why would they want to audit someone that wants to get rid of their authority? Doesnt make a whole lot of sense

 

What I did. 1.Kept insurance. 2. Sold the truck and trailer. 3. Notified the insurance I had sold the truck and trailer. 4. Sent my plate and IFTA sticker back to the state with a note that I had sold the the truck and trailer. Authority shows as inactive,not revoked or canceled. Done and retired!! HOORAY!!!