Sole proprietor to corporation

Discussion in 'Trucker Taxes and Truck Financing' started by PSM379, Dec 10, 2021.

  1. PSM379

    PSM379 Medium Load Member

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    As I’m getting older, I’m finally thinking of creating a LLC or a corporation to keep business and personal separate. As of now last 10 years I have been a sole proprietor under my name. I’d like to keep my authority and put it under the LLC or corporation, move my IFTA account and insurance under it also. Is this possible with keeping the same MC number? Any advice would be appreciated
     
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  3. SoCalRed

    SoCalRed Medium Load Member

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    You can keep your MC, but you'll have to get a new DOT#. I did it 2 years ago.
    I went for S corp.
     
  4. Ridgeline

    Ridgeline Road Train Member

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    Get a lawyer, you may be able to transfer the assets into the new entity.
     
    Bean Jr. Thanks this.
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