OWN AUTHORITY : things not to overlook to stay compliant.

86scotty · Oct 28, 2020

Siinman said: ↑

Quickbooks is my friend. Ha Ha
Click to expand...

Yeah, I’m old-school I guess. I’ve never used any of that software. Just the notes app on my phone and pen and paper.

Gilead Global Logistics · Feb 11, 2021

TallJoe said: ↑

I just did a biennial update MCS150, UCR for 2021 and run a drug consortium Clearing House query on myself.
I compiled a check list ot things what an independent o/o needs to remember about in order not to have unnecessary troubles at scales if inspected. Good to refresh memory too.

The costs are my own. Yours may vary.

1. Truck IRP (plate registration) : $2000 every year
2. HVUT (Heavy Vehicle Used Tax) : $550 every year
3. UCR (Unified Code Registration) : $59.00 (+ 1.62 convenience fee if paid online) every year
4. IFTA filings : every quarter
5. IFTA renewal: $3.75 every year
6.Kentucky Weight Distance permit (KYU) - $0 - $30 every quarter
7.New Mexico Weight Distance permit - $0 - $75 every quarter
8. New York Weight Distance permit - $0-$50 every quarter
9. Insurance: every year
9.1. Auto Liability ($1million/$1000 deductible) : $6500
9.2. General Business Liability ($1 million/$1000 deductible): $250
9.3. Cargo Insurance ($100 000/$1000 deductible) : $ 1000
9.4. Physical Damage: ($40 0000 value / $2500 deductible): $ 1500
10. Biennial Report: $0. To be done at least once every two years.
11. Clearing House query: $1.25 per query every year
...anything else?.....

Important: UCR or Biennial Report fillings are easy to do on your own. I've had solicitation calls to offer to do them for me for as much as $100...

Feel free to comment, if you see I forgot about something...

P.S.
I should also add that things such as: KY,NY,NM permits are not required if not operating there
also only Auto liability insurance is required per FMCSA (others such as Cargo, Physical Damage or Business Liability are needed per you business requirements only)
Click to expand...

Everything you outlined is perfect! I will add though that you can do everything yourself. I did everything myself. Got my IRP in FIVE days! (Houston TX) DOT & MC IN 21 DAYS.

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