To start the process of starting your New Jersey LLC, a business name should be created in accordance with state-specific requirements. When filing a New Jersey LLC, the actual business name should contain any of the following: ‘Limited Liability Company’ or ‘L.L.C.’.
Also, your New Jersey LLC name should also be easily distinguishable from any existing business entity registered with the New Jersey Division of Revenue and Enterprise Services. To check the availability of the name you’ve chosen, you can use the business name search tool.
If you have confirmed that the business name is valid, file an Application for Reservation of Name to the New Jersey Division of Revenue and Enterprise Services. The name reservation is valid for 120 days. The form can be filed online or through postal mail with a filing fee of $50.
Another state requirement to starting an LLC in New Jersey is to hire the services of a Registered Agent. This can either be an individual or another domestic or foreign business entity that is legally registered to do business in New Jersey.
A physical street address in New Jersey must also be provided by the Registered Agent. The agent should agree to receive service of process on behalf of your NJ LLC.
To register an LLC in New Jersey, a Public Records Filing for New Business Entity should be filed to the New Jersey Division of Revenue and Enterprise Services.
Information such as the name and address of the LLC; name, address and signature of the LLC’s Registered Agent; and purpose, dissolution date, and name and address of each member or manager of the LLC should be provided.
The form should then be submitted through postal mail, fax, or through the web portal for the New Jersey LLC filing. A $125 filing fee should be included with an additional $3.50 for the online filing.
An LLC EIN (Employer Identification Number) is required as this number series is your LLC’s distinct identification number used for basically any kind of business transaction.
From filing tax returns, opening bank accounts, obtaining business licenses and permits, to applying for credit cards for your LLC, these all need a New Jersey EIN. There are several ways to obtain an EIN, but the easiest way is through the online application on the IRS website.
There are many options when opening a business bank account to keep your personal and LLC finances separate. For a close up look at the top options, visit this quick roundup.
Keep in mind that by opening a bank account separate from your personal one, you will be able to keep your personal liabilities as a New Jersey business owner at a minimum.
Now that you have accomplished the five steps above, you are considered a legal business entity. The additional requirements below are included as a way to help you become legally compliant and to ensure that you can operate legally in New Jersey. Follow the list to facilitate smooth business operations.
Every business should have a solid business plan to follow when starting a New Jersey business, not just to maintain a semblance of order within the organization, but to ensure that business goals are successfully achieved and corrected or modified when necessary.
When you write a business plan, you are also able to analyze the fine details of your business operations, helping you come up with a stronger and more effective plan of action. If you haven’t started on a business plan for your New Jersey LLC, the resources below can be great starters.
When incorporating an LLC in New Jersey, be ready to take on the responsibility of filing the required New Jersey LLC tax returns.
Tax obligations should be periodically monitored to ensure that you will not fall behind on your deliverables. To help you complete your New Jersey LLC tax requirements, our New Jersey Business Taxes guide provides insight on business deliverables.
Just the same as your tax requirements when starting an LLC in New Jersey, you must also acquire all the essential New Jersey business licenses to legally operate your business. Different business types require a number of various business licenses and permits.
A thorough understanding of the state’s business license regulations help to accomplish this task easily. You can get started on your New Jersey business license requirements with our New Jersey Business Licenses and Regulations guide.
An annual report must be filed by your organization as part of the requirements for maintaining an LLC in New Jersey. This report is to be filed through the New Jersey Division of Revenue web portal.
The due date for your New Jersey LLC annual report is on the anniversary month of your formation. A filing fee of $50 is required.
An LLC Operating Agreement is especially vital to your business, because it provides a solid structure as to the managerial and financial rights and responsibilities of each member of the LLC.
This structure is designed in such a way that it benefits your LLC the most. To begin writing your LLC’s Operating Agreement, you can refer to Rocket Lawyer’s Operating Agreement and fully customize it to your own business needs.
Nowadays, it is important to build trust through a business website. Since I don’t have crazy technical experience and you probably don’t either, I recommend building a website on WordPress.
WordPress is free, easy to use, and customizable. No need to hire a custom web developer. See how to get started through this step-by-step guide.
Please be advised that this is an informational guide meant to provide general information on New Jersey LLC organizations. For more details on starting an LLC in New Jersey, seek the expert consultation of a business lawyer.