NTC is helping companies set up transportation companies as we have outlined in the following paragraphs for your review.
We often find that by forming a transportation subsidiary to hold and operate these vehicles may be an answer. There are financial benefits of forming and operating a transportation company, including reductions in insurance premiums, sales and use tax savings, federal excise tax savings, and potential state income/personal property tax savings.
NTC has the requisite knowledge on truck fleets and related record keeping requirements such companies must comply with to take advantage of the exemptions. We have a network of legal professionals who assist us with the formation of the company as well as any contract issues that must be addressed. The CPA’s we work with have the requisite knowledge of state income, federal excise, and state sales and use tax filing requirements. We will work with your current insurance adviser on obtaining a reduction in premiums.
NTC handles ALL the work, and we are paid based on the savings we secure for you in the future. For example, assume that you purchase or lease a truck in a state where it is determined that an exemption is available for transportation companies. The exemption will apply to capital expenditures as well as operating expenses. Our Fee Agreement is very clear and simple. We are paid only after the savings on these purchases are realized. We share in the savings for the next three (3) years, as can be seen in the fee agreement.
The professionals we utilize can and generally do include their fee with our services. That is, one fee for all of the legal and accounting services.
Because our process is confidential, we ask that an officer sign the Mutual Covenant Not to Misuse Confidential Information. This in no way binds you, nor authorizes us to do anything for your company.
In order to obtain an accurate estimate of the potential savings, we need a list of each of the states that your company has truck terminals and the number of vehicles in each state. After we receive this information, we will contact you with a preliminary estimate of savings. We would present this information to you in a meeting and address any additional questions at that time.
Please call us at 317-403-8865 for further questions.