So you want to "own " your own company

I am also 60, and have been driving for 1 year as a company driver. Strictly dry van. Started with Swift, and I appreciated their allowing me to learn on their equipment. Looking back, I was not ready when they turned me loose, but the Lord looked out for me and the poor unsuspecting other people on the roads I was on. Now with a higher paying company that I plan on leasing on with when I purchase the truck. Main reason is benefits, plus the security blanket of having their load levels, buying power for fuel and repairs, and they are a known value. I have visited this site at least once a week over the past year, and strongly encourage you to do the same. Most of these guys know what they are talking about, and most are glad to give knowledgeable advice. If you have time over the next year, go back and read through past pages. A lot of good information. My thanks to G-man and Gears for all their posts. Good luck. Just a question, but at 60, why flatbed?

 

I just started my company i just wanna see if i have everything i need
is there anyone that know what a company needs to have to be fully compliant in KY?
a list would help out a lot

 

Are you talking about your IRP, KYU and that type of thing? Or do you mean things like a business license, taxes, etc.,?

Kentucky has a website that may give you the information you need. I don't remember the address but you should be able to do a search for Kentucky government and get pointed in the right direction.

 

yeah stuff like
EIN #
USDOT
MC#
ect. i just need a list of everything

 

You're in the right thread, you just need to go back to the first page and start reading-when you get done, ask if you still have questions.

 

yes, 134 pages not everyone has that time to read it. Thats why i brought the question up and hoped someone with in KY could help answer that

 

KY is just like every other state. Basically everything you need is in the first post. When you get done there, go read the rest of the docked threads.

You're looking to get in the wrong line of work if you're too lazy to do your own research.

You're welcome.

 

FEIN is your federal identification number. You can go by your local IRS office or may be able to get one online from the IRS website.

You need to apply for your MC number. The filing fee is $300. You can file the application online or pay a service to do it for you. You should be able to get your DOT number the same time you apply for your authority (MC Number). Before you will be granted authority you will need a minimum of $750,000 auto liability insurance, however, you will need a minimum of $1 million in liability and $100,000 cargo before most shippers and brokers will load your truck. You will also need to have registered agents before authority will be granted. There are services that will do that for you, but if you are a member of OOIDA, they will do it at no charge. You will need to apply for an IFTA account and should be able to do that when you get your base plates. In my state they are in the same office. Once you register they will give you a couple of IFTA stickers to put on your truck.

You should have an occupational accident policy or workers compensation on yourself if you will be driving. OOIDA sells occ policies for about $140-150/month.

You will need to have a KYU number for Kentucky. If you run through New Mexico and New York, they also have a permit you will need to purchase and file quarterly tax reports.

You will need to have active authority and insurance before you will be allowed to register your truck and get your base plates. You will also need to pay your 2290 (Heavy Vehicle Use Tax) to the IRS before being able to get your base plates. The annual cost for the 2290 is $550, but is prorated from July. You will also need to pay your UCR. I don't know what it will cost this year, but I think that it should cost about $79 for one truck.

I think that about covers the basics. Once you apply for authority you should be contacted by people selling everything from insurance to anything you may need.

 

Gman
Thanks for your help thats the basic i asked since i have most of that stuff I thank you a 100000000000000 time for confirming this with me god bless

 

You are welcome, Abazian.