Trucking Advice on Licensing and Permits

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This is an easy formula that we have done before. All you do is add your costs for fuel and road taxes, license and permits for the year. Divide that by the number of miles driven for that year. Let's give you an example. Let's say your total costs for permits, plate and fuel taxes is $1890.00 and you cover 100,000 miles a year. Divide the cost of $1890.00 by the miles which are 100,000, thus giving you a cost of.0189 per mile. You need to figure your per day costs for licensing. This is so you know how much your equipment costs you per day not utilized. To do this, take your total costs for licensing, fuel and road taxes, license and permits for the year and divide it by the days in a year you work. Let's give you an example. Your total costs yearly is $1890.00 divided by 365, the days in a year. This gives you a cost of $5.17 per day. If you work only 5 days per week, you need to divide by 260 days for the year. Using the same total cost above and dividing by the 260 days in a year figure, your cost would be $7.26 per day. That's a sizable difference.