Who is Affected by Map 21?
IT’S A HUGE NEW TAX
COSTS of starting and maintaining new corp Sec 32915
CARRIER MUST start corporation separate from their motor carrier
SEPARATE FEIN, address, corp identity, different phone numbers
CAN NOT share even payroll
CAN NOT co mingle broker funds with carrier funds or loans.
BROKERAGE CAN NOT apply for a loan using their broker receivables as collateral - pledged to Surety Bond in most cases.
CARRIER CANNOT take possession of cargo in their name
CARRIER MUST identify to shipper which corp is handling the tender
CARRIER CAN NOT invoice shipper for a brokered load.
CARRIER CAN NOT use their Insurance for brokered loads.
Other Bonds Available