Class III carriers are defined by which annual revenue threshold?

Class III carriers are defined as those whose annual revenue is less than $3 million. This classification is part of the regulatory framework used to categorize different types of freight carriers based on their size and revenue capabilities. Understanding these classifications helps in recognizing the scale at which various trucking companies operate, as well as the regulatory requirements and expectations placed on them.

Inherent to this classification, Class III carriers are often seen as smaller companies that may not have the same extensive resources, operating capacity, or financial leverage as larger carriers. This information is vital for those in the trucking industry, as various rules, regulations, and opportunities can differ significantly based on the size and revenue of a carrier. Furthermore, such classification influences the kind of support and services available to these carriers, as well as how competition might affect their operations and market strategies.