Trucking/Selling an MC # to new owners
I have a client wanting to sell his trucking business. 3-4 trucks but booked by customers due to only 6 digit MC#.
Can the owner sell the business and transfer his/company MC# to new owner for value??
Owner thinks his # acquired in the 1980's has value due to tenure in the business.
Any thoughts or concerns to share confidentially??
Queen City Business Alliance LLC
High Point, North Carolina
JR. ( I just got back from vacation , sorry for the delay)
Someone can buy an existing company and keep the DOT / MC numbers as part of the company " package". What they will have to do is of course change their corporate / LLC info with their state AND file an updated MCSAP-150 form with the USDOT reflecting the new ownership. It is nice to be be able to have an " old" number as it was issued when the company first got their numbers issues. Someone who didn't know better may assume that it is the same owners although that's obviously not always the case. The MCS -150 form can be done on line or print it out and mail it in.
In the near future, MC numbers will be gone and the for hire authority will simply be part of their DOT number. But for now, a motor carrier who hauls somebody else's goods needs MC authority and has to have it on the sides of the truck next to their DOT number.