If you plan to start a business as a vehicle rental or leasing company, you’ll need to start by filing certain business licenses, permits & tax forms. Start with your vehicle rental/leasing license. The business license will give you authorization to lease cars and trucks to customers. Without one, you can’t operate your business.
What You Need for a Vehicle Rental License
When submitting your car rental license application, you’ll need certain documents, so gather them together beforehand to make the submission process easier.
Start by filling out your vehicle rental license application and getting it notarized. You may also need a vehicle leasing/renting license compliance certification, as well as a business license listing all owners, managers, and employees.
You will also need a sales tax registration number from your state’s Department of Revenue Services.
Your state’s business license board will want to see proof of financial responsibility, such as an insurance certificate showing that you have specific or blanket coverage for your company and vehicles that you will rent. You may also need a surety bond — typically $10,000 or so — to rent vehicles to customers.
See if your state requires you to be incorporated or an LLC. If so, you will need to also provide your business structure documentation. Once you submit all the required information and pay the car rental license application fee, the business license board will review your paperwork. It may take several weeks to get approved, so wait until you get your vehicle rental/leasing license to start operating.