I know this question has been answered a thousand time on here but I have not found the answer through this forum. However I'm about to purchase a truck and wanna know being leased on to a company I know I don't need my authority but do I need a dot/mc number, business name for truck or does that come along with my authority when I'm on my own. Thanks ladies and gentlemen in advance
Quick question
Discussion in 'Ask An Owner Operator' started by mookie, Jul 30, 2017.
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Your carrier should supply all that you need, some guys add there trucking company name to the truck but not necessary. I use my own name for mine and don't have it on there. And then when you get your own authority you need to get all those thing yourself.
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I form a S corp for my business, bought the truck under it and opened a special bank account for it. I keep business and personal accounts separately. Also , I leased my truck to a company that covers all those concerns, the only thing I chose to do was to get my own base plates as I if I chose to move on it's coming with me.
mookie Thanks this. -
Thanks for taking the time to respond really helpful
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Help me out what do u use ur name for if it's not in ur truck, Or u saying ur personal name is registered as ur business cause I'm considering my personal name and logo because eventually I want my own authority
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Legally in many states you are supposed to have your company name on the truck with the company you are leased to - for example; "Owned by ABC transportation specialties, Detroit MI"
My state it is codified to do so, but our police won't say much about it, if at all.
Just wondering if you did your due diligence when buying the truck or did you just run out and buy one? -
No haven't purchased yet, getting my ducks in a row. I know I don't authority considering I'm leasing on to jb for example. But it sounds like I need to register a business name to put on the side of my truck even though I'm leasing on to jb. youre educating me on something new. Where would I find info on this process.
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Whether you are leased or drive under your own authority it is always best to register for a business. You will want to get an EIN (employer identification number). You can get it under your name as a sole proprietorship or create an actual business model (like mine Meade Transport LLC).
Don't get screwed over by using the EIN of whoever you're leased too AND paying the $550, I lost out on $229 bucks and some change because of it.mookie Thanks this. -
Great info Meade sounds like you know ur stuffMeade Trucking Thanks this.
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Thanks buddy I hope it helps. I learned it all the hard way lol
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