Shutting down corp and opening different state (Which state)

I would say to call ooida maybe

 

If you are starting a corporation, you can incorporate in a different state than the one you reside in or operate in. My uncle's business is incorporated in Delaware and located in NY, where he also lives.

I don't know that where a business is incorporated will affect the insurance rates though, I expect that has much more to do with where primary operations are than anything.

 

My guess would be to call and get quotes from your insurance company in those states you mentioned. It may not be just the fact that your in NY why it's high unless your in NYC. I'm up above Albany and my rate is under $6k/yr.

 

Delaware claims their corporations are better than anybody else's

 

It's easy to incorporate in Delaware. That's where I have mine. All you need is an agent. As far as insurance and other business operations go I am pretry sure but not positive you might need to have a physical address of some sort in that state in order to consider yourself based there.

 

You are correct. Insurance doesn't care where you are incorporated at, they care only where the truck and trailer will be garaged at when you are home. That's the address they'll use for determining your rates.

 

If truck and trailer determines the insurance cost which states offers the best rates?

 

There are several factors which can impact insurance rates. Where you run has an impact. Type of freight hauled will also be reflected in your rates as will the length of time in business. Other factors will include driver experience, safety record (for those already with authority) and credit rating. Once you have at least a year running your authority your insurance company will also usually need to give them copies of your IFTA returns.

 

You'll need a physical presence in the state for IRP.