new o/o with a couple questions
 

Hi guys i been reading on these forums for a while and youve been very helpful.I have about 16 years experence but mostly heavy haul and oversize loads tri state area and have about 4 years over the road.I'm going to be buying a tractor and trailer unit outright .Then im going to work with a friend "i know never work for friends or family but this is alittle differant story"who has his own authority.We already have several accounts set up for us that he is currently doing.My question is can i carry my own ins. running under his authority or do i have to be under his and do i need my own workmans comp ? How would fuel tax work ? Could i pay it or it has to go thru his authority? I want to make it as easy as possible for him.Thanks for any help you can give.:thumbsup:

You can carry your own bobtail/non-trucking liability insurance, it doesn't have to be through him. In fact, I don't think any carrier can legally force you to buy insurance through them, although many offer it a good rates.

If he doesn't offer Workmans Comp then you would probably want to buy Occupational Accident insurance for yourself. OOIDA offers it for members.

Fuel tax would be filed through his authority but you can and will pay it yourself if he doesn't pay it for you.

As Red Clay said you have to have your own Bobtail insurance. Liability and load insurance will be issued under the company name, even if you pay him for it, or you won't find a shipper who will give you a load (Unless you show running under your authority as a trip leasor to him)
Work comp depends on the state where his authority is issued. In Florida, and a lot of other states it is thru the company even if you pay him back.
Fuel tax has to be thru the company as they are the ones responsible for it, and keeping the records.

Thanks guys thats pretty much what i thought.My friend just got his authority a little over a year ago and his probation came back spotless.What happens to him if i have a logbook problem or a dot fine running under his authority.Im not planing on having problems but what if i do ? Down the road i plan on getting my own authority how would a fine or out of service affect me to get authority?

Anything that happens to an owner operator while operating under someone else's authority goes against that carrier. If you fail an inspection then it goes against the one who's authority you are operating under. Any problems you have while operating under someone else authority will not have any affect on you should you decide to get your own authority. I checked with my state a few months ago as to whether an owner operator who was leased to me could have their own IFTA. According to the state you can lease to a carrier and have your own IFTA. There is a form which must be signed where the lessee agrees to be responsible for filing and paying all fuel taxes. Most carriers want to take care of that themselves when an owner operator is leased to them.

thanks gman you guys are great