I am leased on to a company. I own my truck, but it is registered under the company name. I am running under their authority. They applied for and obtained my IFTA permit and HUT permit. The permits are under their name aslo. Do they have to pay the taxes? Do they pay them and pass them on to me?, or am I ultimitely responsible for them. I am under the impression that I will report them myself and pay quarterly, or is that only if I am running my own authority. :roll:

 

It depends on what your lease agreement with the carrier says. The carrier is responsible for the fuel taxes. Most will deduct the taxes from the owner operator's settlement.

 

That's what I was thinking. I will keep money to the side for reservation. I am due to speak with my accountant this week. He deals with one of the drivers at the same company I am with. But I figured I would try to find out as much as I could before I sit down with him. Thank you, GMAN

 

You don't own your truck, the company you drive for owns it. Even if you are paying for it, you don't own it.

I'm guessing you are a lease purchase driver.

You are responsible for everything that your contract with the company says you are responsible for. I am shocked that, as a business owner, you don't know this.

Did you read the contract you signed, and have it looked at by a competent attorney?

 

You are welcome, sideman.

Rev, I think sideman is talking about his SSR and IRP being the his carrier's name. At least I hope that is the case. If he is leased to a carrier the SSR and IRP will be registered to them because they are the ones with the authority. You can get your own base plates if you lease to a carrier. You will probably need to supply a copy of your lease agreement with the carrier before they will give you the base plate. Most carriers will get the IFTA stickers and handle the fuel taxes, so they can make sure they are paid and properly filed. If an owner operator is allowed to do his own fuel taxes and fails to file on time or correctly, it is the carrier who will be responsible for any fines and interest. Some carriers will do a fleet averaging for their fuel taxes and registrations, which may not be the best thing for the owner operator, depending on where he runs.

 

The way it's worded, it sounds like a lease purchase program, where you are renting a truck from a carrier, and they continue to own it until you either fail, or buy it out on the overpriced balloon payment.

 

No, that is not the case. Many drivers with my company do that, but I purchased the truck myself. The one you see is my truck, my name on the title. Paid $19,000 for it and pay for it myself for $700 a month. If I ever leave the company the truck comes with me. I am not someone who likes to build equity for someone else. The other drivers lease from the company and pay $1700 a month. I could have gotten my own plates, but I let the company do it and pay for it. My insurance is $18 dollars a week with bobtail. I have been driving for almost 20 years so getting insurance myself would have been $3700 a year, not to bad, but it is cheaper letting the company get it for me.

 

Yes the IRP is in the carrier's name. 48 states. Reg. out of IL.

 

If I were you I would be on the phone with the person at your company that handles vehicle registrations, plates and IFTA (ect) and asking them how you handle this.

MCT who I was running OTR with as an O/O handles all my plates, permits, IFTA and they send out a statement to me listing what is owed on IFTA or what I'll will get back as a credit. They handle all the paperwork and figures, and all I do is pay if $$ is owed.

So best bet for you is to call your carrier and ask them how they handle this and what your responsibility is.

 

My bad. The way it was worded in the O.P. made me believe that the carrier's name was on the title.