Are you looking forward to registering your domestic or foreign LLC in New Jersey?
If yes, then this detailed guide is for you. Here, you'll find out that you can file for the LLC registration online, in person, or by mail.
How much will it cost you to start an LLC in New Jersey, and what is the paying method? How long will you have to wait for the whole process of LLC formation to end? Do you require any other business license to start operations? Compare it with LLC formating in Florida here, or form your LLC in the state of California, if you need to set up your business there. Also, if you form your LLC in New York state, it is good to know which advantages the neighboring state offers. We also explained how to form your LLC in the state of Pennsylvania nearby.
For comprehensive answers to these questions and more, stay with us in this detailed guide.
It will also help if you use the services of a trusted and reliable LLC formation service and find out more about the best states to form your LLC, for example an LLC in Wisconsin, Colorado LLC, or LLC in Ohio. You can also look into Illinois LLC, LLC in Maryland, or LLC in NC neaby.
How Do I Set Up an LLC in New Jersey?
Forming a limited liability company in New Jersey means meeting all the state requirements.
As with other states, New Jersey has some unique requirements to form a New Jersey LLC. The state filing requires you to file your documents with the New Jersey Department of Records, together with the required filing fee.
IncFile comes in handy if you want formation services.
So, what do you require to register your LLC business in New Jersey state?
You need to file public records with the State of New Jersey division of the revenue department. The public records filing must include:
Name and address of the LLC business
Business type and the purpose of the limited liability company
How long the limited liability company will be in operation
Type of management for the LLC
Name, address, and signature of members
Name and address of a registered agent
Completed business registration application
You need to file the forms in duplicate and accompany them with the filing fee.
You can check out Rocket Lawyer if you need an affordable legal service of the process.
How much will it cost you to form an LLC in New Jersey?
Probably you are wondering, "How much will it cost me to form an LLC in New Jersey?"
Well, you are not alone. Every investor who wishes to form an LLC in New Jersey wants to find out how much the filing fee is and the cheapest way of forming an LLC business in the state?
Lucky for you, you don't have to struggle with the research as we have done it for you. To register the New Jersey business, you need to submit a public record filing with the Department of the treasury, division of revenue. Upon submission of the forms, you need to pay a $125 filing fee.
See, it won't dent your bank account when you want to start the business.
You can pay the fee in cash, money order, credit card, or check.
The processing of the documents will be through within one to three business days. However, there is an option for an expedited process that will take 24 hours but at an additional fee.
You can consider Zen Business for affordable LLC services when you want to start a business in New Jersey.
So, what do you do when you want to start your business? Here is our simple to follow step-by-step guide on forming an LLC in New Jersey.
Step 1: Select a name for the LLC
Do you have a name for your LLC business?
If you want to go ahead with the registration, you must choose a name for your LLC. The name must be distinguishable from the names of any other business entity registered with the New Jersey Division of Revenue and Enterprise Services.
You can check for the business name's availability from the New Jersey Business Record Service, business name database.
If you wish to reserve a name, you can do so by filing an Application for Reservation of Name (UNRR-1) with the New Jersey Division of revenue in Trenton, NJ. The application will cost you $50, and you should file it online at New Jersey's Business Charter Amendment website.
What are the naming guidelines for the New Jersey LLC business?
Your selected name must include the phrase "limited liability company" or any of its abbreviations, including LLC or L.L.C.
The name should be distinguishable from any other New Jersey LLC business, corporation, or limited partnership
You cannot use words in your LLC name that can confuse the business with a government agency such as the FBI or State Department
If the LLC name includes restricted words such as a bank, University, etc., you require more paperwork. It would help if you also had a registered professional such as a lawyer to be part of the business.
If you wish, you don't have to use the LLC business's legal name in your public records filing. Instead, you can come up with an alternate name, also known as the fictitious name or assumed name, or Doing Business As (DBA)
You should register with the New Jersey Division of Revenue and Enterprise Services to use an alternate name. You can file for the registration of an alternate name by mail or do so online. It will cost you $50 to register an alternate name to use in the state.
Step 2: Get a registered agent in the state of New Jersey
After choosing a name for your LLC, you should then choose a New Jersey registered agent.
Who is a registered agent?
A registered contact acts as the contact between your New Jersey LLC and the state. It can be an individual or entity responsible for receiving legal documents, lawsuits, and tax forms on behalf of your New Jersey LLC.
The registered agent in New Jersey can be an individual or a foreigner, or a domestic corporation such as a registered agent service. They have the authority to transact business on behalf of your New Jersey LLC.
Nothing stops you from selecting yourself or any other individual from the company as a registered agent for your LLC.
Step 3: Finish the public records filing
To set up a New Jersey LLC business, you must complete your public records filing with the New Jersey Department of the treasury. Division of revenue.
The filing includes
The name of the New Jersey LLC
The New Jersey Code "LLC"
The purpose of the New Jersey LLC
Name and address of the registered agent
The signature of any representative
You can get a printed form on the Division of revenue website meant for the registration of New Jersey LLCs. You can fill the form and post it by mail or fax. Alternatively, you can file online on the division of revenue web portal.
If you file online, you'll pay an additional $3.50 to the $125 filing fee. You must pay the additional fee using a credit card.
Step 4: Prepare an LLC operating agreement
Do you need an operating agreement for your New Jersey LLC?
Yes, you do.
Although an LLC operating agreement is not in filing your public records, it helps a lot if you have one. Plus, even if you don't have to draw an operating agreement for single-member LLCs, it is highly advisable that you come up with one for a multi-member LLC.
The operating agreement outlines how the business will be managed and run, and it also establishes the rights and responsibilities of members and managers. Thus, it helps in the smooth running of the LLC and prevents conflicts in the future.
If you don't develop an operating agreement, the state LLC law will dictate how your LLC will be run.
Step 5: Get an EIN for your LLC
EIN refers to the employer identification number. It is a nine-digit number given by the Internal Revenue System (IRS) for business tax purposes.
If your LLC business has more than one member, you must get an employer identification number (EIN, even when you don't have employees. If it is a single-member LLC, you need to get an EIN if you intend to hire employees or elect it to be taxed as a corporation instead of a sole proprietorship.
Depending on your business's nature, the state may require you to obtain other business licenses when starting a business. You may also have to get local business licenses and permits from the county or city.
All New Jersey reg LLCs and foreign LLCs must make sure they register with the division of revenue for tax purposes, whether they intend to hire employees or collect sales tax. The registration must be done within 60 days after the formation of the LLC.
It ensures that you get a tax identification number and you receive all the tax returns and notices. The tax identification number helps you track all your tax recordings, including the New Jersey sales tax and income tax.
An EIN is also a requirement when you want to open a bank account for your LLC.
If your LLC meets all the New Jersey requirements to operate, you get a certificate of good standing. The certificate attests to the legal status of your business to operate.
Note, even though the LLC has limited liability on members, the New Jersey course will "pierce the corporate veil" to impose personal liability on members on the LLC's debts and obligations. This helps to ensure the LLC is not used to defeat the ends of justice.
Step 6: File annual reports
After starting your LLC business, you must make sure you file an annual report every year. The New Jersey LLC annual report must be filed on the anniversary month when the LLC was formed and authorized to do business.
You should file the report online at the Division of Revenue Annuals and Change Service page, and it will cost you $50.
If you need to register an LLC, now you have all the information you need to form NJ reg LLC. In this guide, we have the step-by-step process of starting the business. We have also outlined how much it will cost you and all the requirements you need to meet to achieve legal status.