To secure and register your brand name it must be unique, not too similar to another registered name, and shouldn’t contain any restricted wording. To check, conduct a Business Entity Search through the Sec. of State, and if there are potential trademark issues conduct another quick search using the TESS System through the U.S. Patent Office.
Keep in mind your LLC name should contain the words ‘Limited Liability Company’ or ‘Limited Company’. Abbreviations for these words like ‘L.C.’ or ‘L.L.C’ are also acceptable. If needed, you can file an Application for Reservation of Name through online/postal mail for that’s good for 120 days.
Filing Fee: $50
A New Jersey Registered Agent can be an individual resident of the state or a legally registered domestic/foreign business entity with a physical street address and regular M-F business hours. On behalf of your brand they receive and help process important documents like state filings, tax forms, legal notices and so on. They’re essential and required by law.
That said, you can hire a 3rd party professional and expect to pay up to $160/year, or get a Registered Agent free when you start an LLC with IncFile or Incorporate.com. They handle this along with so much more depending on the startup package/service you choose.
To register an LLC in New Jersey, a Public Records Filing for New Business Entity should be filed with the New Jersey Division of Revenue and Enterprise Services through postal mail, fax, or through the State Web Portal. A $125 filing fee should be included with an additional $3.50 for online filing.
This is a declarative statement about the basics of your business for the public record – hours of operation, ownership info, name and address, registered agent info, and so forth.
These days this is a very straightforward step. Your EIN, or FEIN, is a Federal Employer Identification Number that allows the state and federal government to track your business activity similar to how a social security number is used to keep record of an individual’s financial movements.
It also allows you to legally hire employees, set up a bank account in the next step and more. To get your free EIN number, you can print out and mail in This IRS Form or apply online using the IRS Website.
First of all, there are tons of choices in New Jersey from local, state and national banks as well as credit unions. Don’t be hasty. The institution you choose to be the home of your brand’s financials is important. Do your homework and be sure to familiarize yourself with the basic perks and incentives to business banking.
Once you decide it’s just a matter of a) syncing with your business accounting software, and b) keeping the account separate from any others so nothing gets mixed up. Here’s a quick breakdown article of Business Checking Accounts from some of the biggest banks to begin your research.
What’s this about? Well, you don’t need to have one, but you should. This is an internal document that outlines not just basic operational rules, but all other financial/managerial duties as well which can include salary numbers, ownership percentages, profit sharing deals, etc. It’s critical!
This document adds protection, structure, and has precedence where the default state-specific rules would take over if it wasn’t in place. To get started, consider this savvy Operating Agreement Tool which you can customize yourself.
Step 7 is where it really helps to work with a professional or buckle down and do the research yourself. Licenses, permits, and business taxes need to be taken care of.
To get started bookmark the Newark district office of the Small Business Administration, the state’s Premier Business Services page, and the One-Stop Business Portal because they’re going to be go-to sources. If you need help, look into professional Business License Research packages that handle the legwork for you.
Every business should have at least a basic plan to follow during the hectic startup-phase. Not just to maintain a semblance of order within the organization, but to ensure that important goals are achieved, issues corrected, and financials stay healthy.
Then of course there’s the future of your brand to consider. The sooner you start planning, the more crystallized and optimized it will be when it comes to approaching serious stakeholders, potential partners, lenders, or even CrowdFunding/Social Selling platforms.
QUICK LINKS TO BUSINESS PLANNING
If you already have a fabulous in-house designer, or you’re gifted with web design yourself, then this step won’t mean much. For you it’s about steadily growing your web presence for brand expansion and digital marketing purposes. If you don’t though, then learning how to make a website work for your business is a great place to begin.
Other options are website-builder solutions like Wix, SquareSpace, or perhaps Shopify if you’re entering the eCommerce market. Regardless, dig in, get something functional in place and let the journey unfold.
Note that this article on how to form an LLC in New Jersey isn’t a legal document or legal advice. It’s for informational purposes and the information above is subject to change. For specific legal questions regarding how to form an LLC in New Jersey or business in general, please consult with a lawyer or other accredited professional.