What name is your title under?

I just run it in my name as dba my lawer told me an llc will do me no good as i have no employees so if i get in an accident there going after the company plus me anyways so there was no need to llc or incorporate, my freind is incorporated and he's going through it now since hes the only one and no employes there after him personally along with the company.

 

You need a better lawyer

 

I've looked in to it pretty well, if your the driver and you also own the company even if your llc or not there coming after you personaly with the lawsuites it happens all the time research it a little i did thats why i stay a dba.

 

I researched quite a bit. Also consulted with two attorneys, one a transportation attorney. The whole purpose of a corporation or LLC is to separate you from your business. You also need to keep separate and distinct records and not co-mingle funds from you and your business. When there is a lawsuit, of course lawyers will try to "pierce the corporate veil", but if you operate it as you should, you'll be protected. If you carry the necessary insurance as well, you're in better shape.

 

I'm not an attorney but a CPA. Remember this, NO entity in the world will protect you from your personal torts. So there is no benefit in incorporating a one person trucking business. Best way to go is DBA.... if you start to grow look into S-corp and at the same time an LLC ( lawyers likely choice!).

 

IF the truck is titled under a company name, do companies you lease to generally care? Or would they prefer the truck to be in your name?

 

An LLC, even a corporation, will not protect all of your assets in a judgement if you are the majority owner in the business. Any sharp lawyer can work around that and they have thousands of times.

For instance if you have a personal loan guarantee on the corporations loans (i.e.: truck financing) that may open the door for a personal judgement against you. I would bet only a few individuals have all their loans in the corporations name without a personal guarantee.

Several years ago I knew a nightclub owner who lost everything because of a personal injury judgement lein against his corporation. He was proven to be the primary business owner and had signed his name to guarantee loans made by his bank to the corp.

The lawyers got nearly all of his assets except for some personal items and one car. His house and all of his other business interests were liquidated in order to satisfy the judgement.

Right or wrong that's how it goes.

 

I have to agree that incorporating as a one truck owner/operator will not protect you much from liability in the case of an accident. If you are the driver of a truck involved in an accident you will almost certainly be sued in addition to the carrier regardless of who that is.

If you are running under your own authority you have the required insurance to provide some protection but most O/O's leased to a carrier probably don't have any other than bobtail. I don't know what that type of policy cost, but I know they are available.