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Food Truck Myths <br /> • Food Trucks are transient entrepreneurs <br /> with no ties or loyalty to the community* <br /> • Food Trucks are inexpensive to operate and <br /> maintain** <br /> • Food Trucks are unsanitary <br /> • Food Trucks can park anywhere in the city <br /> *Seven Myths and Realities About Food Trucks <br /> **Indiana Dept.of Revenue and IRS <br /> Let's talk Food Truck Myths, Often there is a concern that food trucks are transient <br /> entrepreneurs with no ties or loyalty to the community. <br /> 1. However, successful food trucks are more likely to settle in areas where they have <br /> developed markets, even if they are not initially based locally. There are many <br /> cases of food trucks gaining popularity in cities and towns across the country and <br /> establishing B&Ms in those areas due to the popularity they have achieved in local <br /> markets. *Seven Myths and Realities about Food Trucks <br /> 2. The perception is that food trucks are inexpensive to operate and maintain. The <br /> reality is, food trucks are subject to many of the same fees as a restaurant. For <br /> example, FT owners must have a commissary kitchen which they either have to pay <br /> property taxes or rent, they must purchase liability insurance, a business license for <br /> each city they operate in, and a county health permit. In addition, they must <br /> register with the Indiana Dept. of Rev. for sales, use, and income taxes, and file w/ <br /> the IRS for an EIN for payroll taxes. Just like a restaurant, a food truck must spend <br /> money to train their employees, to purchase inventory, market their business as <br /> well as pay for maintenance & property taxes on the truck (if the value of the truck <br /> is $20,000.00 or more). **Indiana Dept. of Rev. and IRS <br /> 14 <br />