We take care of your paperwork, so you won't end up paying extra for registrations that you don't need.
Our goal is to take care of every detail in legalizing your truck, so you can get your job done without unpleasant surprises on the road. Do not waste your time with headache with bureaucratic issues. We are professionals and we know what to do. We have worked diligently toensure that our customers do not go through fiscal penalties and improperly registered vehicles or permits.
STEP 1: Get a CDL
First you’ll have to get your commercial drivers license (CDL) and get some experience. Many drivers who eventually become owner-operators start out as company drivers.
STEP 2: Have a plan
Remember that your expenses need to include your own salary. A business adviser can help you figure out the best plan.
STEP 3: What kind of company?
Common structures of trucking businesses include:
Limited liability corporation (LLC)
Corporation (C-corp, S-corp, etc.)
Each one has different pros and cons, and that varies with each state. You might want to meet with an accountant, to figure out what’s best for your business.
STEP 4: Start-up expenses at Philadelphia
Look into financing, and try to secure a line of credit. It’s a good idea to save up enough money to cover your first six months of operation.
STEP 5: Business operations
How will you deal with parking and maintenance? Where will you find loads? Who’s taking care of invoicing, accounting, IFTA, payroll, and other paperwork? Do you need to hire employees?
STEP 6: Compliance
Before you can start, your company must comply with several trucking safety rules:
USDOT Number – This number from the U.S. Department of Transportation (DOT) is used to collect and monitor your company’s safety information, inspections, crash investigations, etc.
Operating Authority – All for-hire carriers must have authority from the DOT to haul freight across state lines.Your authority also determines what types of freight you can haul.
Heavy Vehicle Use Tax – Applies to all trucks that weigh more than 55,000 pounds.
International Registration Plan (IRP) – IRP distributes registration fees based on distance traveled in each U.S. state or Canadian province. You have to register on your state’s transportation website.
International Fuel Tax Agreement (IFTA) – IFTA is an agreement among the lower 48 U.S. states and Canadian provinces to simplify reporting of fuel use by carriers who drive in multiple states. Carriers file a quarterly fuel tax report that determines their tax and distributes it to the states. Your truck must have an IFTA decal on it, and you have to apply for a new one at the beginning of every year.
BOC-3 Filing – This names your company’s process agent, who will be the one to get served on your behalf in any legal proceeding. You need to designate a process agent in each state where you maintain an office or establish contracts. Some companies offer blanket coverage that designates a process agent in every U.S. state.
STEP 7: Insurance
Primary Liability: You must carry at least $750,000 in primary liability coverage, which covers damages or injury that result from an accident when you’re at fault. Many shippers and brokers require $1 million in liability coverage.
Cargo: $100,000 is the most common amount for cargo coverage, but it depends on what you are hauling. Covers damage to the freight and/or theft.
Physical Damage: Covers truck damage in accidents where you are not liable.
Non-Trucking Use (Bobtail): Covers your liability if your truck is involved in an accident when you’re not hauling a load for someone else.
The XXXhas more info on trucking insurance at www.INDIQUE UM PARCEIRO SEU
STEP 8: Get a truck and/or trailer
Below are some common types of leases:
Operating (Full-Service) Lease: You take care of maintenance, taxes and permits, and you walk away at the end of the lease.
Terminal Rental Adjustment Clause (TRAC) Lease: You make a small down payment, and at the end of the lease, you can cover the difference in value and purchase the truck. Or you can have the leasing company sell the truck. If the leasing company makes money on the sale, you get the profit. If it loses money, you pay the difference.
Lease-Purchase Plans: These are for truckers who don’t have enough for a down payment or have bad credit. You may pay more in the long run on these plans, versus traditional financing.