Requirements for Trucking Business Start Ups
Starting any company is a hard task, as a lot of your time and energy, as well as money that gets invested in it. In order to make a sound decision we advise for everyone to do their research. Whether you decide to run your business with sub-contracted drivers or privately owned drivers there are number of important requirements that have to be met.
Here are some key points that the SBA (Small Business Administration) suggests for complying with trucking business licenses, permits, and forms:
• Federal DOT Number and Motor Carrier Authority Number’ Understand your requirements and apply for these certifications online at the Federal Motor Carrier Authorit’s website.
• Heavy Use Tax Form (2290)’ Comply with tax regulations related to the heavy use of U.S roads with IRS Form 2290.
• International Registration Plan (IRP) Tag’ Understand your requirements and obtain IRP tags by visiting your state’s transportation website and their IRP portal.
• International Fuel Tax Agreement (IFTA) Decal’ Understand your requirements and obtain IFTA decals by visiting your state’s transportation website.
• BOC-3 Filing – Use a processing agent and the BOC-3 filing option to secure and maintain active operating status.
As always we recommend that once you have done your research and have your fleet ready, you obtain the necessary insurance requirements by contacting us, at Royalty Truck Insurance, so we may walk you step by step thru all your needs. Our highly trained transportation insurance representatives will gladly answer all your questions and help you choose the best insurance suitable for your new business.