Running under your own authority might mean you have a higher income, but it also means you have more liability, more expenses, and more paperwork. Just because you run under a trucking company's authority doesn't mean you lose all ability to choose when and where you run.Mar 15, 2021
What does having your own authority in trucking mean?
Having your own carrier authority means you have the government's permission to get paid for hauling freight as your own trucking company. Operating Authority is issued through the Federal Motor Carrier Safety Administration (FMCSA) in the form of a Motor Carrier (MC) number.Jun 29, 2020
How much does it cost to have your own trucking authority?
How Much Does It Cost to Get Your Own Authority? The FMCSA charges $300 to file the paperwork and get your authority issued. This includes your MC and DOT Numbers. To reinstate authority, you're looking at $80, and if you need to change the name on your paperwork, that costs $14.
Is it better to have your own authority in trucking?
Having your own authority means you get to keep any cash left over after you pay expenses. ... Your operating expenses will be much higher as an owner-operator with your own authority. You have to pay much more attention to maximizing your top-end revenue while cutting expenses to boost your profits from each load.
How do I run my truck in my own authority?
- Register your trucking company. ...
- Get an EIN. ...
- Get your USDOT number. ...
- Apply for your MC number. ...
- File a BOC-3 & get an insurance policy. ...
- Pay your HVUT. ...
- Set up your International Registration Plan (IRP) and get your apportioned plates.