Are you planning to start a trucking business and wondering if it will be successful or not? The trucking industry is one of the largest and fastest-growing industries in the US. It is also a lucrative business that generates great revenue. This means it has a promising future however, things might go south if you do not understand what it takes to run a profitable trucking business. Global Multi Services is here to make your first step easier by helping you with all the processing. We will tell you the types of permits such as the Kentucky KYU Permit you need to operate legally in the state.

Additionally, we can help you process your Kentucky Filing to relieve you of all the stress. Read on as Global Multi Services takes you through tips on how to run a successful trucking business in Kentucky.

Find A Good Location

The location of your office plays an important role in the success of your business. Your office should be located in a place where there is adequate parking space for both your working and customers. The location should also be easily accessible and traffic-free. This will help your drivers avoid traffic jams and late deliveries.

Buy Quality Truck

The trucks are your moving force and the life of the business. If you do not have a reliable and good truck to transport your customers freight, your business reputation will go downhill. Although used trucks are cheap, they can not be relied on. New trucks are more reliable, last longer, and have a warranty. Being sure your truck will not stop in the middle of anywhere because of defects helps you focus on other things.

Hire The Best Truck Driver

Truck drivers are the backbone of your business and they represent your business in front of your customers. Their action outside the office is a reflection of your company’s safety rating. Starting your trucking business with the best truck drivers in the US improves your business and also boosts customer satisfaction. They obey the government road regulations and drive respectfully. Find the best driver if you want to run a successful trucking business.

Get The Right Permit

You need to do all mandated registration and get permits such as Kentucky KYU Permit, IFTA Permit, IRP Plate, and others to operate legally as a commercial trucking company in Kentucky.  Failure to process your Kentucky Filing and other legal paperwork will lead to hefty penalties which can affect your business. At Global Multi Services, our team of professionals will help you process your Kentucky KYU Permit and Kentucky Filing hassle-free.

Follow The Rules And Regulations

Following the rules and regulations connected to your trucking company will keep you in business for a long time. It is important to know the ones you need to follow and the ones mandatory for your drivers.  You can also add those rules and regulations to your hiring policy. This will help you hire drivers with great driving records and are willing to follow the rules and regulations.

The Kentucky Permit is a one-time permit obtained by commercial vehicles that do not travel through the state regularly. The state requires commercial vehicles to obtain a permit if they travel through Kentucky and has a gross weight of 60,000 or more.

Obtaining the KYU number proofs you have registered with the state and a highway tax form will be sent to you quarterly. This tax form must be filled and returned on or before the due date. You can obtain your Kentucky Permit without stress by contacting Global Multi Services. With our years of experience in helping commercial vehicles file their paperwork, we ensure your Kentucky Filing is done on time.

What Is KYU Number?

The Kentucky KYU Number is a weight distance tax license issued by the state and calculated based on the miles traveled by commercial vehicles through Kentucky. After obtaining your KYU number, you must file your KYU tax quarterly. The KYU Filing should not exceed the due date if you want to want to keep your authorization active.

A trucking company based in Kentucky and operates one or more qualified motor vehicles in any other IFTA jurisdiction must file for the International Fuel Tax Agreement (IFTA) in Kentucky. Motor carriers will only be issued the Kentucky Intrastate Tax License if they do not operate outside Kentucky,

You are not required to display the truck KYU number on your vehicle. This is because the  truck’s KYU Number is linked with its USDOT number

KYU Number Requirements

Here are the requirements you need to meet before you can get KYC number

• You must register as an interstate carrier through your USDOT Number
• Your Motor Carrier number must be active if you are operating as an interstate commercial vehicle
• Full information of your commercial vehicle including the plate number.
• Your transportation company must have Unified Carrier Registration and it must be for the current year.

Kentucky KYU Permit Application

The Kentucky KYU Permit is granted within seven to fifteen business days after completing your Kentucky Trucking Application Form online. An assurance letter with your new tax license number on it will be mailed to you if you are granted the permit. If you have issues processing the online application form, you can print the form, fill it and mail it to the office of the Kentucky Trucking Application Office.

For your Kentucky Filing, you must have a KYU account to file your tax electronically. You can make your payment online with a credit card and other means. After completing your filing, you can print a copy for record.

Penalty For Late Filing

The quarterly tax is due on the last day of each quarter and it must be done even if the date falls on a holiday or weekend. Failure to file your quarterly tax report can lead to the cancellation of your KYU license. If your KYU license is revoked, you will pay a Failure to File Fee, interest, and a Post a Bond to reinstate your license.

Although, in the United States, there are federal departments to charge road tax from the commercial vehicles maneuvering on state and national highways. But some states still charge their own road taxes, supplementary to the state taxes, from the commercial vehicles, or the private vehicles of some specific categories, maneuvering on their state highways. Kentucky is one such state. In this blog, I am going to enlighten you about the supplementary road tax that the state of Kentucky charges from travelers traveling on their state highways, also called Kentucky permit, what are its key point, and how Global Multi Services is the best place for Kentucky Filing and other trucking permits.

What is Kentucky Permit?

Kentucky Permit enables you to pay Kentucky Highway Use Tax. According to this Kentucky Permit, all the vehicles that weigh a gross vehicle weight of 60,000 pounds and more, operating on the state highways of Kentucky, are entitled to pay tax, supplementary to other federal taxes, based on their vehicle weight and distance traveled within the borders of Kentucky. It is not like that this rule is just for those who are registered in Kentucky as their base jurisdiction, even those who are not registered in Kentucky but travel interstate and use the state highways of Kentucky, are also entitled to pay this tax. In order to apply for a Kentucky permit, and get your Kentucky Highway Use Tax License, you have to show your USDOT number along with an active operating authority and Unified Carrier Registration License. This gives the Kentucky authorities assurance that you are a licensed and registered motor carrier.

How to be biddable with the requirements of Highway Use Tax

Some states that charge their own highway taxes, make their taxpayers sign a bond which gives the state surety that no matter what they will receive their taxes, and the state of Kentucky is no different. Those who file for Kentucky Highway Use tax have to sign a Kentucky Highway Use Tax Bond. The Highway Use Tax bond works as a kind of extra protection for the state. If you have signed the Kentucky Highway Use Tax bond, you get financial backing from a surety provider who pays for you in an unfortunate circumstance when you fail to file the taxes to the states. But still, you will be liable for reimbursement later. The amount that you have to sign the bond for is based on your fleet size, or how many vehicles of the concerned category you own, and depending on that the bond amount could vary from $1000 to $50000.

Why choose Global Multi Services

Isn’t it better to have all your services from just one service provider instead of roaming to different service providers and different offices for specific services? Global Multi Services is the one-stop for all the trucking permits and trucking services. At Global Multi Services, the experts that provide Kentucky Permits and do Kentucky Filing, along with many other trucking services, are very profound and skilled at their jobs.