Business Entity
Build your foundation on solid legal ground.
There are several different forms of business structures that you can establish as a trucking company, each with its own unique advantages and disadvantages.
The most common among new carriers are:
- Sole Proprietorship: While no setup required, it hurts the credibility of your organization when dealing with lenders and freight providers, and leaves you vulnerable to the businesses liabilities.
- Partnerships: These businesses are owned and operated by two or more people, in a General Partnership all owners are personally liable for the debts and obligations of the business.
- Limited Liability Company (LLC): Increases the credibility of your company while limiting the liability of your personal assets. Fast, simple, and affordable.
- Corporations (S and C Corps): The most complex business structures. They are generally considered best for larger companies with many employees.
CarrierForge's carrier establishment package includes filing your business as an LLC which offers what we feel is the ideal blend of protection of your personal assets while minimizing the headache and effort to establish and maintain your business.
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