Starting a trucking company: the checklist

Start with the business

Set up a business entity (many owner-operators choose an LLC), get an EIN from the IRS and open a business bank account. Keeping the truck's money separate from yours makes taxes, factoring and insurance simpler.

Federal registration

Next come the federal filings:

• USDOT number and MC operating authority through FMCSA
• BOC-3, naming a process agent in every state
• Proof of insurance filed by your insurer with FMCSA

Truck registration and taxes

Before you run interstate loads, register the truck and sign up for the recurring taxes:

• IRP apportioned plates
• Form 2290 heavy vehicle use tax for trucks 55,000 lbs and over
• UCR, paid every year
• IFTA account and decals
• State permits where needed, such as New York HUT, Kentucky KYU, New Mexico and Oregon

Safety and drivers

Enroll in a drug and alcohol testing program, register in the FMCSA Drug and Alcohol Clearinghouse, build a driver qualification file and get an ELD. In your first year, FMCSA runs a new-entrant safety audit that checks these records.

Then find freight

Once your authority is active, brokers will ask for your carrier packet: W-9, authority letter and certificate of insurance. Expect some brokers to want a few months of history first. A dispatcher with broker relationships can shorten that wait.