# Need help with the title name



## monacom9 (Aug 24, 2010)

Hey should i put my truck title in my name or my snow plow bussiness name it is a LLC?


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## White Gardens (Oct 29, 2008)

Depends.

If you put it in your name, you can lease it to your company and use that expense as a ride off.


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## got-h2o (Sep 26, 2008)

If its in your name you avoid DOT too


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## White Gardens (Oct 29, 2008)

got-h2o;1131714 said:


> If its in your name you avoid DOT too


Gotta be careful though. You still need to put commercial plates on the truck. At least here in IL. As soon as you get in an accident the law will look at that first.


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## hydro_37 (Sep 10, 2006)

ask your attorney and accountant


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## grandview (Oct 9, 2005)

hydro_37;1132387 said:


> ask your attorney and accountant


Yes.

Be careful keeping it in your name ,if something happens while using that truck they maybe able to come back to your personal assets.So set up your business to protect yourself.


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## basher (Nov 13, 2004)

Most commercial insurance companies require the company (LLC) name on the registration. 

Why take the protections/tax advantages of an LLC if you are not going to use them.

Talk to the account or lawyer that helped you set up your LLC about the right path for your particular situation.


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## jklawn&Plow (Jan 8, 2011)

The research I did shows LLC only offers protection if its not a one man show. Any info on this?


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## basher (Nov 13, 2004)

_Often incorrectly called a "limited liability corporation" (instead of company), it is a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (*depending on how many owners there are*). An LLC, although a business entity, is a type of unincorporated association and is not a corporation. The primary characteristic an LLC *shares with a corporation is limited liability*, and the *primary characteristic it shares with a partnership is the availability of pass-through income taxation*. It is often more flexible than a corporation and it is well-suited for companies with a single owner._

Every state has slightly different regulations, check with your accountant or lawyer to find the specific requirements for your state.


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