IRP, IFTA and Apportioned Plates

It's not complicated at all, you open an account with your state at your local office then put the truck on the account you can replace, add, remove trucks from the account from now on. Your state would then issue your apportioned plates, registration cab card and IRP stickers for your truck the fees would be based on your truck gross weight. For your RAM 3500 I would recommend to register at 40,000 lbs gross weight. So now you can run but you must keep track of the mileage in each state and keep the fuel purchase receipts in each state, every quarter you must file an IFTA report to your state tax office and pay the fuel tax if you owe any. Basically you take the total mileage from all the states you have traveled through and divide that by the fuel gallons that you have purchased it would give you 'average' mile per gallon. Let's say my truck's average mile per gallon is 10 mpg, I have run 1000 miles total 900 miles in Texas and 100 miles in Louisiana. For this 1000 miles I purchased 100 gallons in Texas but I didn't purchase any fuel in Louisiana, Texas charges 26 cents per gallon and Louisiana charges 30 cents per gallon on fuel. So when I purchased the fuel in Texas I already paid the fuel tax on the 10 gallon ($2.60) that I used to drive through Louisiana but because LA charges a higher tax on fuel I owe LA 40 cents when I file my quarterly IFTA report. It sounds complicated but all you have to do when you file quarterly IFTA is your mileage in each state and the fuel gallons purchased in each. In Texas I file online I just input the numbers and the state system calculates everything.

Your state should have a website explaining all this, just google 'your state irp apportioned'... The thing is you must track your mileage and fuel purchase in each state, I use BigRoad it does both mileage and ELD.

What kind of trailer are you looking for? I have 40' gooseneck flatbed and a 3/4 car wedge trailer for sale, maybe you are interested?

 

Yes, the TIN (tax identification number) is the EIN (employer identification number). If it's your trucking company you should form an LLC and get an EIN from the IRS for the LLC and use that. The LLC is a separate entity from your personal finances it makes doing taxes so much easier and protect you from personal liabilities. I don't know about Wyoming if you plan to run from state to state then you are INTERSTATE anything Intrastate does not apply to you, Texas did not ask about it and yes the title number is on the truck title. Also if you apportion the truck you do not have to pay sale tax on it, at least that's how it is in Texas.

 

If you are the driver of the vehicle the LLC owns. The LLC won't protect you from any liability. If you are involved in an accidents. You the driver can be sued and the LLC can be sued as well.

Good luck.

 

Anyone can be sued at anytime for anything in this country whether the plaintiff can win is another story, the LLC is an obstacle it's better than a person dba (doing business as). That is why my trucking LLC owns nothing, my truck is owned by another entity financed to maximum amount and is leased to the trucking LLC.

 

To even try to have legal protection with a corporate veil (the LLC). Each entity would require a TIN, tax filings (quarterly or annual) separate insurance, separate checking account.
NO commingling of funds.
Liability isn't limited to being sued. It includes the required paperwork needed to be saved and reported to the state and federal agencies. And the fines and penalties assessed with that paperwork.
That would be a lot of extra paperwork and expense (for me).

Many people lease their truck, nothing new about that.

I don't see any protection under the law with multiple entities, IF the same person owns them AND is the driver.
MHO.
Good luck.

 

You are correct that it must be done correctly legally speaking, especially when we have a country run by lawyers without any regard for the truth. I myself have 3 LLCs and they are all separate each with its own bank account and documentations. My accountant charges $200 per LLC at tax time, Texas charges $300 for a LLC filing it's a small price to pay for SOME protection nothing is ever foolproof in life.