Truckers Report Jobs

Find Trucking Jobs

Company Driver Company Driver Dry Van Dry Van Flatbed Flatbed Refrigerated Refrigerated Specialized Specialized Owner Operator Owner Operator
More Trucking Job Searches ⌄ Fewer Trucking Job Searches
⌃

Setting up an LLC in one state but live in another?

Discussion in 'Ask An Owner Operator' started by redoctober83, Sep 22, 2015.

Page 2 of 3
  1. Sep 23, 2015 #11
    nofreetime

    nofreetime Road Train Member

    1,271
    1,310
    Oct 22, 2013
    0
    Question if your lease contract is signed under your MO llc and you were to dissolve that llc and move it to your home state would that terminate your lease contract?????
     
    nofreetime, Sep 23, 2015
    nofreetime, Sep 23, 2015
    #11
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Sep 23, 2015 #12
    redoctober83

    redoctober83 Road Train Member

    2,407
    2,291
    Sep 10, 2013
    Seattle, wa
    0
    Thank you, I plan on doing well. I'm doing much better over here at Schneider, just have concerns about this new contract we have to sign. I'm hoping it's all just hyped up bs but if they start messing me around I'm out of there and getting my own authority.

    I have a good sizeable reserve on hand right now that I could survive a good couple of months if need be, I just don't like using those reserves. I'm to #### frugal for that.
     
    redoctober83, Sep 23, 2015
    redoctober83, Sep 23, 2015
    #12
    nofreetime Thanks this.
  4. Sep 23, 2015 #13
    redoctober83

    redoctober83 Road Train Member

    2,407
    2,291
    Sep 10, 2013
    Seattle, wa
    0
    Prime wouldn't have a clue if it was dissolved. If you tell them most likely. I don't plan on dissolving it anytime soon. I'll just file with Washington state a foreign llc declaration so I show a Washington llc as well.
     
    redoctober83, Sep 23, 2015
    redoctober83, Sep 23, 2015
    #13
  5. Sep 23, 2015 #14
    nofreetime

    nofreetime Road Train Member

    1,271
    1,310
    Oct 22, 2013
    0
    And I thought WA would be a high tax rate state. Also I'm getting my info from ATBS who I believe is the largest accounting service for drivers. Also after speaking with abacus they are preparing to handle s corps and payroll beginning in 2016. Are you saying that both of these guys are lying to me to gain themselves some revenue? If that's the case can you provide some links to where I could read about this further? If so I'll be on the phone with ATBS wanting an explanation in the mornin if ive been deceived I want to get to the bottom of it. Also I want to mention that you don't need to have an llc in order to lease from prime since I choose to file my llc in another state I didn't have an llc setup when I first leased the truck I later bought.
     
    nofreetime, Sep 23, 2015
    nofreetime, Sep 23, 2015
    #14
  7. Sep 23, 2015 #15
    nofreetime

    nofreetime Road Train Member

    1,271
    1,310
    Oct 22, 2013
    0
    Good
     
    nofreetime, Sep 23, 2015
    nofreetime, Sep 23, 2015
    #15
  8. Sep 23, 2015 #16
    redoctober83

    redoctober83 Road Train Member

    2,407
    2,291
    Sep 10, 2013
    Seattle, wa
    0
    When I started my lease with Prime this January they made it a requirement for our group and others that month.

    As for the s-corp, the best site I can give you is irs.gov and look under business structures. Also check out the sba website. Then do a Google search about setting up your s-corp. The answer to atbs and abacus may getting money from you is yes. You can do everything they do by using quick books or some other kind of accounting software. I do all my own accounting with a Web based software I host on my server. It'll create invoices and reports and email statements to customers. It's something that will be needed for sure when I get my authority so I can get paid in a timely manner :)
     
    redoctober83, Sep 23, 2015
    redoctober83, Sep 23, 2015
    #16
    nofreetime Thanks this.
  9. Sep 23, 2015 #17
    nofreetime

    nofreetime Road Train Member

    1,271
    1,310
    Oct 22, 2013
    0
    They must have stopped requiring it I started my lease in July of this year, bought the the truck out in Sept just leased it long enough to know what I was buying. Also thanks I'll get on irs.gov and start reading when I can. Like I needed more research to do lol, I bet you can identify with that.
     
    nofreetime, Sep 23, 2015
    nofreetime, Sep 23, 2015
    #17
    redoctober83 Thanks this.
  10. Sep 23, 2015 #18
    redoctober83

    redoctober83 Road Train Member

    2,407
    2,291
    Sep 10, 2013
    Seattle, wa
    0
    I don't think prime can make up there mind what they want. We were the first group that it was required and they said it was because of California laws fit independent contractor classification. Oh well.

    Here is a link to the sba about s-corp and llc https://www.sba.gov/content/s-corporation

    And here is an article in a business journal.

    http://evergreensmallbusiness.com/s...oration-which-is-better-for-a-small-business/

    I'm off to sleepy land now. Later and good luck
     
    redoctober83, Sep 23, 2015
    redoctober83, Sep 23, 2015
    #18
    nofreetime Thanks this.
  11. Sep 23, 2015 #19
    Ridgeline

    Ridgeline Road Train Member

    22,454
    117,566
    Dec 18, 2011
    Michigan
    0
    Get someone in your state to set it up, stop playing around with it. Prime should not require what form of company you form, a legal form is all you need.
     
    Ridgeline, Sep 23, 2015
    Ridgeline, Sep 23, 2015
    #19
  12. Sep 26, 2015 #20
    MSS

    MSS Light Load Member

    83
    22
    Feb 16, 2008
    Hagerstown,MD
    0
    Have had my authority since July of 13'. I started out just by looking at load boards. Worked out pretty good for me. I was fortunate to marry into a truck and a reefer so no payments. With your own authority comes more responsibility. IFTA (NY,KY), tax payments, drug consortium, 2290, MCS-150. It was a lot at first but I got a dry erase board and wrote everything on there so I wouldn't forget. I had a big sense of accomplishment and you will to. No middle man you are the man. Where I ran into some problems was once I tried to hire a driver. What pain in the @#!. Had OOIDA insurance so there required atleast one year recent experience which was hard to find and then the couple guys I presented to them didn't pass their driving record. So needless to say no hiring for me for now. Had a factoring company to for when I couldn't wait to get paid which really helped.
     
    MSS, Sep 26, 2015
    MSS, Sep 26, 2015
    #20
    77fib77 and redoctober83 Thank this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

    • Page 2 of 3