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

OPENING HOURS

Monday-Friday

8.30am-5:00 p.m. EST

 

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ADDRESS

2005 Ailor Avenue
Knoxville, TN 37921
sales@classictruckinsurance.com
Tel: 888-498-0255
Fax:865-522-7772

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Disclaimer:  Our General insurance Glossary is for general information only. We  do not warrant the information found here as usual and customary for assessment of insurance claims or pay outs. Insurance terminology could vary widely per State or Insurance company acceptability. Contract language can vary widely dependent upon  many factors. The information contained here is meant to be general in scope. We recommend contacting your insurance agent or the insurance bureau in your state for exactly what is appropriate in your state .