| Everything we purchase, use, or consume was at one | | | | 3. Federal Authority: This gives you federal authority to |
| time transported by truck. Even if a product traveled | | | | transport goods. You must have you federal authority |
| by train, plane, or ship, it was still trucked. The trucking | | | | in place before you can haul anything. |
| industry is one of the largest in the world. But many | | | | 4. Insurance and Bonding: You must have certain |
| people are inclined to stereotype truck drivers as "all | | | | insurances and bonding in place before you can |
| muscle and no brains." Yet the trucking industry has | | | | receive all of your authority and licensing. |
| some of the most strict and diverse rules and | | | | 5. BOC-3 Filing: This filing is a contact listing for all |
| regulations. | | | | states to help with problems on the road. |
| To be successful in the trucking business takes skill, | | | | 6. Licensing the tractor and trailer: You need to be |
| ingenuity, energy, hard work, and most of all intelligence | | | | licensed for each state you are going to operate in. |
| to keep updated with all the federal and state rules, | | | | 7. IFTA License: Every state wants the fuel tax that is |
| regulations and laws. Just driving down the road, | | | | used in their state. IFTA License creates a system for |
| though vital, is just a part of the industry. Successful | | | | you to pay the state one fee and the state distributes |
| truck drivers have done their homework and learned | | | | the fuel tax to the appropriate states. |
| all the ins and outs of the trucking industry. | | | | 8. Federal Heavy Highway Use Tax: The federal |
| When starting a trucking company, it is important to | | | | government charges a tax for truck drivers for the |
| know these rules, regulations and laws before starting. | | | | privilege of using Federal highways. |
| Failure to do so can result in spending thousands of | | | | 9. Single State Registration: Each state DOT has a |
| unnecessary dollars. Often drivers end up spending | | | | Single State Registration that you also must pay per |
| weeks and months fixing problems and learning laws | | | | state that you plan to drive in. |
| when they could be earning money on the road. | | | | 10. Individual State Permits: There are some states that |
| If you are considering becoming an owner/operator or | | | | have permits outside the Single State Registration and |
| starting a multi truck company here are the top ten | | | | IFTA Licensing. Some of these states are: New |
| things you should research before you begin: | | | | Mexico, New York, Kentucky and Oregon. |
| 1. Name and Entity Creation: Your name is one of the | | | | These are the top ten vital things a future driver should |
| biggest and, believe it or not, one of the hardest | | | | now about before starting. By learning these ten items, |
| decisions you will make. Your name is what people will | | | | a future driver begins his road to a successful trucking |
| think of when they think of your services; so, you want | | | | business. |
| it to be easily remembered. | | | | Trucking company is a large a complex business. It is |
| 2. Equipment Type and Commodity: Decide what kind | | | | important to learn and understand everything that is |
| of commodities you want to haul. Do you want to haul | | | | required of you to succeed. Though there is money to |
| dry goods, refrigerated goods, flat bed commodities, | | | | be made in the trucking industry you want to be |
| scrap metal, etc. By deciding what kind of commodity | | | | properly educated so you keep those profits in your |
| you want to haul, you will determine what kind of | | | | own pocket and spent on needless penalties or |
| equipment you need: refer-trailer, flat bed trailer, car | | | | missed opportunity. |
| hauler, etc. | | | | |