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Owner operator and authority

Discussion in 'Ask An Owner Operator' started by TruckinDave812, Feb 28, 2022.

  1. Feb 28, 2022 #1
    TruckinDave812

    TruckinDave812 Bobtail Member

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    I currently own two trucks and have been running under a company's authority for the past 5 years. I recently decided to branch off and get my own numbers to haul dry vans. Since my trucks are registered under my old ein number can I register just 1 under my new ein number I opened to get my authority under while I leave the second where it is for now? Reason being is I'm currently hauling Intermodal with the company I'm leased to and joining the UIIA will cost me a fortune to keep that driver there under my new authority.
     
    TruckinDave812, Feb 28, 2022
    TruckinDave812, Feb 28, 2022
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  3. Feb 28, 2022 #2
    ProfessionalNoticer

    ProfessionalNoticer Road Train Member

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    You're EIN only matters to the IRS. The state might use it for billing/tracking/identification but it shouldn't matter regardless. All they really care about is your address, proof of insurance, who is responsible for safety and proof you've paid your FHUT/2290. You really should be contacting your DMV for 100 percent clarification though.
     
    ProfessionalNoticer, Feb 28, 2022
    ProfessionalNoticer, Feb 28, 2022
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  4. Feb 28, 2022 #3
    bad-luck

    bad-luck Road Train Member

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    In Maryland, your EIN number is used for your IFTA as well. I am not sure about other States. So would suggest that you use the EIN number that is associated with your business name with your authority.
     
    bad-luck, Feb 28, 2022
    bad-luck, Feb 28, 2022
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  5. Feb 28, 2022 #4
    062

    062 Road Train Member

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    It’s going to depend on how your state does registration. In Nc you have to set up two accounts since the trucks are under different MC numbers. It doesn’t cost extra,it’s just a paperwork shuffle.
     
    062, Feb 28, 2022
    062, Feb 28, 2022
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  7. Feb 28, 2022 #5
    TruckinDave812

    TruckinDave812 Bobtail Member

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    That's how it is here as well. I was told by one person as long as I keep them on separate EIN numbers so that are looked at as "separate entities" I should be fine. Just thought I'd get some outside thoughts maybe sometime had done some something similar.
     
    TruckinDave812, Feb 28, 2022
    TruckinDave812, Feb 28, 2022
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  8. Feb 28, 2022 #6
    bad-luck

    bad-luck Road Train Member

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    I am assuming that you have two separate business names. I would check with an accountant, you wouldn't want it to throw up a flag and get audited.
     
    bad-luck, Feb 28, 2022
    bad-luck, Feb 28, 2022
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  9. Feb 28, 2022 #7
    TruckinDave812

    TruckinDave812 Bobtail Member

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    It's only gonna be till September I'm moving and my current driver wants to stay till I leave. But I'm no longer gonna be doing port work once I move so no sence in paying crazy insurance prices for a few months of work if I can leave him under the current motor carrier for now
    One is a sole proprietorship the others an LLC. It's only gonna be till September when I move. My driver wants to stay on with me till then but since I'm not doing port work once I move I don't see the point in paying that extra insurance costs for the UIIA. So much easier to leave him under the current motor carrier responsible for safety and transfer the truck to my LLC later.
     
    TruckinDave812, Feb 28, 2022
    TruckinDave812, Feb 28, 2022
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  10. Feb 28, 2022 #8
    Judge

    Judge Road Train Member

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    EIN is your businesses social security #
    Use whichever number is assigned to that business that your putting your authority into to operate.
     
    Judge, Feb 28, 2022
    Judge, Feb 28, 2022
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  11. Feb 28, 2022 #9
    bad-luck

    bad-luck Road Train Member

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    I think getting out of the port is a move in the right direction.
     
    bad-luck, Feb 28, 2022
    bad-luck, Feb 28, 2022
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  12. Feb 28, 2022 #10
    TruckinDave812

    TruckinDave812 Bobtail Member

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    Yea 5 years was enough.
     
    TruckinDave812, Feb 28, 2022
    TruckinDave812, Feb 28, 2022
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