Natotruckingllc

So, you want to start a trucking company. Saying you want to do it is easy but actually getting started can be quite confusing. You have to know what forms you need, where to get them, and the order you need to complete them in. The good news is, we help people start trucking companies every day with the Apex Startup Program and we can help you, too. Before we get started, you need to answer two important questions. First, do you plan to haul freight across state lines? If so, you'll be hauling interstate freight and you'll need to get Motor Carrier Authority, which is often referred to as an MC Number. If not, you'll be hauling intrastate freight which simply means within your state. Intrastate freight typically involves fewer requirements, however those requirements do vary by state. Second, do you plan to drive a truck for your trucking company? If so, you'll need a commercial driver's license, also called a CDL. To get your CDL contact your state DMV to learn more. Trucking company owners aren't required to obtain a CDL but any drivers you hire are. Starting a trucking company means you'll go to many different websites to complete the required applications and registrations. To make it easy, we've put them together for you and an easy checklist along with other resources on our website, for free! Just head over to our website at the end of this video. The first thing to do is set up your trucking company's business structure. There are four main entity types: Sole Proprietor, Partnership, Limited Liability Company, and Corporation. Research each to decide which business entity is best for you and your trucking company. At Apex, we typically set up trucking companies as LLC's. It provides the protection of a Corporation with the simplicity of a Sole Proprietorship or Partnership. When you set up your business entity you'll go to your state's Secretary of State or similar office, the costs will vary. After you set up your business entity you'll file for an Employee Identification Number, or an EIN for short. The EIN is an ID number that's assigned to your businesses for federal taxes and reporting purposes. Getting your EIN is a fairly simple process and it's free! The biggest part of starting a trucking company is registering for authority with the Federal Motor Carrier Safety Administration, also known as FMCSA. This is where you'll get a Department of Transportation Number and Motor Carrier Operating Authority, or a DOT and MC Numbers, the DOT Number is required for all carrier vehicles weighing more than a certain amount transporting property or people and commerce and operating between state lines. The MC Number allows trucking companies to legally haul freight across state lines. The cost of applying for common for-hire motor carrier authority is $300. Applying for authority is just step one, after applying you'll wait to get active authority. For your authority to become active you're going to need proof of insurance and your BOC-3 filing the BOC-3 filing designates process agents for your trucking company. A process agent is a person who can receive legal documents for your trucking company in the event of a lawsuit. You'll need a process agent for every state that you operate in. There are a lot of BOC-3 filing companies out there so do your research, make sure you find a reputable one. The prices will vary, we've seen costs start as low as $50 and go up from there. Next, you'll need proof of liability insurance coverage within 90 days of filing for your authority and while it's not required for active Authority we recommend you also get cargo insurance since the vast majority of brokers and shippers will require it before you can haul for them. Getting insurance coverage will take research, get a few quotes from different companies and choose the best option for your business. Insurance is one of the largest upfront costs. To give you an idea, the initial down payment for insurance can range from $4,000 to $6000 with the monthly insurance payment of $1000 to $3000 per truck. We're a little halfway through, if you're feeling overwhelmed by all the steps let us help! The Apex Startup Program will help with registrations and filings so that you can focus on building a successful business. Call 855-211-0929 to get started today! Another interstate commerce filing you'll need is the Unified Carrier Registration, also called UCR. The cost of getting your UCR will depend on your fleet size. Just remember, the more trucks the higher the annual filing fee. You'll also need to register your truck and get apportioned license plates. The International Registration Plan, IRP for short, is an agreement between The Continental United States and Canadian Provinces that allows them to divide payments of registration fees based on distance travel in the different jurisdictions. The cost for IRP will vary but you can use the fee estimator available on their website. Now, it's time to register for quarterly fuel taxes through the International Fuel Tax Agreement, also called IFTA. Before filing quarterly fuel taxes you need to register with your state agency that handles fuel taxes and order IFTA can decals to put on your truck. If your registration and cab decal costs will vary. Make sure to check for other state specific registrations. Your state might have additional requirements and you might also need Intrastate Authority. Some states also require weight distance tax permit to haul through their state such as Kentucky, New Mexico, New York, and Oregon. There you have it! Those are all the steps to starting a trucking company. Thanks for watching, if you want more information head over to our website! Thanks for watching, give us a thumbs up if you liked the video. Hit the subscribe button if you haven't already and hit the bell so you'll get notified when we post our next video. We'll see you on the next one!
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