Yes, you can use the same vehicle for both companies.
You will need to enter the vehicle info into the new business.
You do not need to dispose of the vehicle and reenter it in the new LLC.
The vehicle may only be deprecated in one business.
Expenses may be split between the two businesses utilizing whatever expense method you are currently using, actual expenses or mileage expense. It is extremely important to keep accurate records on the usage of this vehicle.
If you are using the expenses method it may be best to allocate these expenses by usage. If one business uses the truck 75% of the time then it would get 75% of the total expenses.
If you are using the mileage method allocate the mileage based on the miles driven for each business.
Once again bookkeeping and proper records play a major role in determining the split.
