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LLC Filing: Things To Know Before Venturing Into LLC

June 23, 2021 LLC FilingLLC Registration

Becoming the owner of a trucking company and changing it to an LLC comes with many responsibilities. From forming the company’s name and getting all the permits to Limited Liability Company Filing, the list goes on and on. Getting all these, especially LLC Filing, requires start-up cash, commitment, and paying attention to every detail. With a lot of competitive information on the internet, it is even more difficult to know all the processes you need to follow. Looking for where to start? Global Multi Services has assembled the steps you need to take for LLC Filing. Let’s dive in.

Check The Availability Of Your Company’s Name

Contact the Secretary of State to do a thorough name search before filing to register it as a trademark. This is to ensure the business name you choose is not already taken by someone else. Failure to do so could lead to the infringement of someone’s trademark. The owner of the trademark can sue you which can cost you a lot of money.

Know The LLC Filing In Your State

The requirement for forming a Limited Liability Company varies from state to state. For example, in Delaware, LLC is required to pay an annual tax fee of $300 to substitute filing an annual report. While New York applicants must follow Section 206 of the state Limited Liability Law. The law states that a copy of the company’s Article of Organization or any other related information that proves the Limited Liability Company formation must be published in two newspapers for six weeks. It is advisable to seek the guidance of a legal practitioner. They will answer all your questions and explain the filing requirements of every state.

Appoint A Registered Agent

A registered agent is an individual or company that serves as an intermediary between the LLC and the government. They represent the LLC in matters concerning receiving and sending legal documents. These documents include state filing notice, legal summon, and others. They also help the limited liability company stay in compliance with the state law. The registered agent appointed by the LLC must be authorized to do business in the state and also have a registered address where the LLC is registered.

File For LLC Article of Organization

This document is incredibly important when starting an LLC and it is also called Certificate of Formation and Certificate of Organization depending on the state. The Article of Organization is a document that contains all the information such as the company’s name and address, members name and address, members financial contribution, the name and address of LLC registered agent, and many more. The document is prepared and filed by its members with a filing fee to the Secretary of State filing office.

Create LLC Operating Agreement

An LLC operating agreement is an internal document that outlines how the LLC should be run including its finance and members dispute. The documents provide a physical hard copy and can be referred to if members are not sure of the rules of the company. It will be governed by state laws if there is no operating agreement that guides its functioning.

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Title Transfer And Title Only Guide For All Vehicles

June 11, 2021 Title OnlyTitle Transfer

Did you just buy a new truck and wondering how to transfer the title of the truck? Or your truck Title Transfer process is taking so long and you don’t know what to do. Well, you are in the right place and we have answers to all your questions.

It is the process of changing the title of ownership of your vehicle to your current name or the name of the buyer. It is a document that proves the legal owner of a vehicle.

Title Only is often issued by the country clerks for trailers and other types of vehicle that does not require registration. This is achievable provided the applicant has all the required documents that show proof of ownership of the vehicle.

Title Transfer is a mandatory process required by the Department of Motor Vehicles in the United State when a vehicle owner changes their name or buys a new vehicle. Read on as Global Multi Services takes us through the process of obtaining title transfer.

How To Transfer Vehicle Title

The process is very easy and varies from one state to another. Therefore, you need to contact the Department of Motor Vehicle in their state to know their specific requirements.

The Department of Motor Vehicle in your state might ask you to complete two or more forms and also provide some documents. The documents include proof of identification, residence documents such as utility bills, and many more.

It is important to research the Title Transfer requirements of the state before purchasing a truck or other vehicle from a seller. For example, New York often requires a Bill of Sale to approve the transfer and it must be signed by both the buyer and seller. Pennsylvania on the other hand requires notarizing the signature of both the buyer and seller before transfer approval.

The website of the Department of Motor Vehicle in most states often has all information regarding the process and provides downloadable title forms. Some also allow applicants to mail their forms and required documents to the department office

Deadline

Deadlines vary from state to state but many states require filing title transfer applications within 30 days of purchase. Failure to comply with this rule can lead to an additional fee on the title transfer fee.

The process of obtaining the title is relatively seamless provided you have all the required documents and follow the required steps. This includes obtaining the Bill of Sale, the signature of both buyer and seller, Notarization of documents, and many more. Additionally, most states issue a new title within two weeks of application.

Requirements

Here are some of the documents required by the Department of Motor Vehicle:
  • Filled Application Form, signed by applicant and seller and possibly notarized.
  • Vehicle proof of insurance coverage
  • Insurance Policy Documents including Name and Date.
  • Vehicle Documents provided by the Seller including title and a Bill of Sale.
  • Proof of identification from government or driver’s license.
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New Mexico Permit: How To Start A Trucking Business In New Mexico

June 8, 2021 New Mexico PermitNew Mexico WDT Number

Running a trucking company is one of the most successful businesses with many benefits in the United State of America. The business allows you to choose the type of company you want to work with and the type of freight you want to haul. It also allows you to decide how often you want to work and your fleet charges. According to surveys, the trucking industry will experience 27% growth in the next decade and 70% of fresh in the US are transported by trucking companies. The rise in freight demand, rates, and driver’s shortage in the industry made it the best time to venture into the business. However, the industry has a lot of competition which can be intimidating for beginners. Read on as Global Multi Services explains how to start a successful trucking company in New Mexico and obtain New Mexico Permit. Let’s dive in.

Choose A Name

Choosing your company name is the first step to take when starting a trucking business. Brainstorm different ideas and you can also ask your friend and family for help, then check if the name has not been used by another company. You can achieve this by searching through the United States Patent and Trademark Office database online or by using business name tools.

You can also file for a fictitious business name if you want a business name that does not have your first and last name. Or set up a limited liability company or other entities with your business name.

Choose Your Niche

Targeting the right niche is an important factor when venturing into the trucking business. Research about products transported to your target location and the critical needs of logistics activities in the area and analyze how you can meet the needs better than other trucking companies. Know the needs of your target customers and their weaknesses.

Choosing your niche at the beginning will also help you avoid unnecessary competition, establish your business name, and boost your sales opportunity in the industry. It will help you streamline your operational processes which save you from operating “anything to anywhere” freight services

Obtain Your Legal Requirements

You must fulfill all your legal requirements such as obtaining your New Mexico Permit before you can operate legally as a commercial motor carrier in New Mexico. Motor carriers registered in New Mexico and traveling intrastate for commercial purposes must apply for New Mexico Permit and get a New Mexico WDT Number.

The state also imposes WDT New Mexico, a weight distance tax on all qualified commercial trucking companies. Trucking companies operating in the state and across state lines must also acquire other legal registrations such as Unified Carrier Registration, USDOT Number, IRP license plate, Motor Carrier Authority, IFTA Permit, and many more.

Create A Business Plan

A carefully crafted business plan often makes the process of starting a trucking business easier. A business plan helps articulate the niche you want to venture into in the trucking industry. It also helps specify your fleet management, goals, marketing strategies, human and material resources needed, operational activities, and many more.

Select An Insurance Coverage

Protecting your trucking business from unexpected financial burdens and choosing the right insurance coverage is very important. Research about the best insurance company and read customer’s reviews on their website. You can also ask a legal practitioner for advice or recommendations on the best insurance to purchase based on your needs. The insurance should cover risks such as injuries caused by accidents, motor carrier damages.

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