New-farm plated semi and hopper advise/help

if the grain is yours, then you are hauling it for yourself, right?

Is the farm in the same LLC?

EDIT - why are you putting the truck into an LLC?

If you are for tax purposes, then you miss out on the offset used to offset the farm profits.

If you are using it to protect your assets, it won't work. The LLC does not limit your liabilities and the vail has been removed in court many times.

Why?

Because you are the owner of the truck, you are the operator of the truck and the farm is your property.

I would just put it in the farm's name and don't try to hassle with the contracts, etc. ... to make it legal.

As for the 2290, call the IRS and ask them. I think there is an exemption because around me, there are an awful lot of idle trucks and they only move during harvest, I don't see them paying the tax just to sit.

 

No 2290 for farm plates

dot number must match farm and name on truck, technically if just the truck is In an LLC then it’s not owned by the farm and you are lending a farm plate out, big no-no,

no operating agreement as you are then a carrier, not a farmer

truck needs to be either titled to the farm or legally registered under llc

 

I understand what you are trying to do but farmers I deal with have the truck in their name or in the farms name. The insurance isn’t much, it isn’t commercial insurance like a for hire operation but farm insurance.

 

If farm tagged on Arkansas you’re allowed 7500 miles/year just go to 2290 and put whatever letter is for exempt. They’ll still want to see it to renew tags.

 

My cousin has 3 trucks, 3 grain trailers, 2 cow trailers, and a hay trailer in South Dakota. Nothing is insured on its own, everything is just covered under their blanket farm policy. And they have three corporations set up for all their stuff. The farthest they get away from home is maybe 130 miles at the most.