STARTING COMMERCIAL TRUCKING CORPORATION

[PHANTOM21]

WHAT ARE THE LEGAL AND TAX RAMIFICATIONS OF INCORPORATING IN SC AND REGISTERING MY TRUCK IN OKLAHOMA?

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by PHANTOM21:
WHAT ARE THE LEGAL AND TAX RAMIFICATIONS OF INCORPORATING IN SC AND REGISTERING MY TRUCK IN OKLAHOMA?<HR></BLOCKQUOTE>

My response:

Hold on a minute while I reprint the entire U.S. Tax Code and laws concerning Corporations. I'll be right back . . .

You've got to be kidding me. With such a generic question like, "What are the tax laws for all of this?", it would take days or weeks to come up with all the various permutations in order to give you an answer on a forum like this. The best thing we can tell you is to see an attorney for some "sit down advice" who specializes in corporate and tax laws.

IAAL



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[PapaSmurf]

Unless you're gonig COMPLETELY BLIND into the business, you might have a chance. Trucking industry is hairy, at best, and even JB has tho't about bankruptcy. If your're a company driver, ask at the HQTRS. If you have any kind of relationship w/your employer, if a company driver, they'll give you a lot of info. 'course they'll want you to run O/O for them. Have you considered that first? that would give you so much insight about "the game" and you may find that's the way to go. So many small business owner-drivers lose out the first couple years, Have you tried O/O ?

 

[dooped]

As a partner in a owner operator truck business. Let me give you this advice run run run away fast!!!!!We have had nothing but bad luck since we started December of 98.
We bought what we thought was a good truck first trip out it caught on fire and burnt to the ground, and we lost about 2 thousand dollars cash that was in the truck and our partner just barely made it out alive. The second truck we got we thought was good to
but it had major problems too so we finally traded it off and now we got I think a fairly decent truck this time, but by the time you pay taxes, workers, insurance and gas, tires, breakdowns, oil changes there isn't any left..So some friendly advice try another venture.