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starting out as O/O

Discussion in 'Ask An Owner Operator' started by risen75, Oct 26, 2010.

  1. Oct 26, 2010 #1
    risen75

    risen75 Bobtail Member

    25
    7
    Dec 30, 2009
    0
    Ok so here's what's going on.. Me and a friend of mine are going to be buying a truck today and yes we have the funding to do it right.

    But here's the question I have for you all.. I'm not sure on exactly what paperwork i'm gonna have to file. Now we're not going to get our own authority as of yet, we're just going to lease onto a company and get our feet wet with it.

    I know that I have to file for:

    IFTA
    Insurance
    truck registration
    DOT Inspection on the truck (as the company we're leasing onto handles the trailers)

    But I noticed the Heavy Haul tax.. but I'm not sure.. is that for MC's with their own authority (in which case leasing onto a company.. the company you're leased onto would have to pay that) or is that for EVERY truck (where whether you have your authority or not you'd have to pay it) ?

    Also is there anything else I'm missing to "Legally" run down the road?
    We're probably picking up the truck tonight.. (10/26/2010)

    Thanks in advance for you're guys/gals help.
     
    risen75, Oct 26, 2010
    risen75, Oct 26, 2010
    #1
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  3. Oct 26, 2010 #2
    Gears

    Gears Trucker Forum STAFF - Gone, But Not Forgotten.

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    Aug 20, 2009
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    What you need to do is contact the company that you plan to lease with. Most have truck requirements, I hope you're not putting the cart before the horse. The company will tell you what they'll provide and what you're responsible for. You'll have to apply with them like any other lease guy. They'll want to see your DMV record, health card, etc...
     
    Gears, Oct 26, 2010
    Gears, Oct 26, 2010
    #2
  4. Oct 26, 2010 #3
    Gears

    Gears Trucker Forum STAFF - Gone, But Not Forgotten.

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    I forgot to ask.... Both of you guys have experience, right?
     
    Gears, Oct 26, 2010
    Gears, Oct 26, 2010
    #3
  5. Oct 26, 2010 #4
    dave_0755

    dave_0755 Light Load Member

    207
    61
    Oct 24, 2010
    Jonesboro,AR
    0
    I bought my truck then leased on with a company. The company did the rest. You can buy your own bobtail and physical damage insurance if you think you can get a better deal on your own.

    I found out the hard way that a lot of companies make money off of you on base plates. It's best to go get your on base plate. They run around $1650 a year. Also since its a new purchase you will have sales taxes to pay. My sales tax on $20,000 purchase price was $600 here in Arkansas.

    You will have to go pay your 2290 for the partial year and you will have to get your federal id number as well. The people at the federal courthouse where you pay your 2290 will walk you through the process of getting your tax id number.
     
    dave_0755, Oct 26, 2010
    dave_0755, Oct 26, 2010
    #4
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