We’ve put together a free step-by-step guide on how to set up an LLC in New Jersey. We want you to have a clear idea of how to set up and manage an LLC for your state. We’ve tried to make sure you have the information you need right at your fingertips. Each step has instructions and links to the sites for you to fill out the forms in the correct order. So, let’s set up your New Jersey LLC right now!
A few points to remember before setting up your LLC in New Jersey
When you set up an LLC in New Jersey, you’ll need a few things before you get started. This section will help you get your checklist in order.
A Unique Business Name
Every business in the state must be unique. You’ll need to search for a New Jersey LLC name. Go to New Jersey Business Name Search to make sure yours is not taken.
An LLC Designator
You must have an LLC designator in your name in one of the following formats.
- LLC (most common)
- Limited Liability Company
Now that you have your unique business name, it’s time to register it with the state of New Jersey. Let’s get down to business.
A Registered Agent
In most states, a registered agent is a person or a company that accepts “Service of Process” for your New Jersey LLC. A registered agent will receive any subpoenas, notices, and other legal, and tax documents sent to your business by the New Jersey Department of Treasury: Taxation.
If you’re opening a business in New Jersey but you aren’t a resident, you’ll need to get a registered agent in that state. The requirements for a registered agent are as follows:
An Individual:
- Must be 18 and be a resident of the state
- Must be authorized to do business in the state.
- Must have a physical street address located in New Jersey
A Company
- Must be authorized to do business in the state
If you meet the above criteria, you can be your own registered agent. Or you can set up a friend or family member to be your registered agent.
You can also hire a commercial Registered Agent. A company that provides their name and address to receive legal documents from the state.
Hot Tip
The nice part of using a company is that their address is used instead of yours. As the business address will be public knowledge. By using a registered agent, you can protect and secure your own address.
Step 1: Register Your Business Name
To set up an LLC in New Jersey you need to reserve your business name. This way during the process no one can steal the name of your company.
You’ll need to reserve your name online at the Business Charter Amendments Service. Or you can fill out the Application for Reservation of Name form and send it by mail.
Your reservation will be up to 120 days and the filing fee is $50.
Step 2: Complete your LLC Filing of Public Records in New Jersey
Setting up an LLC in New Jersey is easy, especially for single-member LLCs. First, go to the New Jersey Business Formation. You can file the Public Records Filing (also known as Certificate of Formation) directly online. Or print out the form from the same site and send it by mail or fax to the New Jersey Division of Revenue & Enterprise Services.
After formation, go to New Jersey Business Registration to register your newly formed LLC.
Fees: In New Jersey, the cost of setting up your LLC and filing the Public Records Filing is $125. It takes 5 to 30 minutes to get approval for formation online. Plus 2 business days for registration.
Step 3: Complete Your New Jersey LLC Operating Agreement
An operating agreement is a key document used by LLCs, and partnerships. It outlines the business’ financial and functional decisions including rules, regulations, and provisions. This describes how your LLC will operate internally. For more information on operating agreements, you can check out the Small Business Administration’s article on basic operating agreements.
Hot Tip
You are not required to file an Operating Agreement with your state. But it may be vital to have it, especially if there are multiple members of your LLC.
Step 4: Get Your Federal Tax ID Number (EIN)
Once your New Jersey LLC has been approved it’s time to get your Federal Tax ID Number from the IRS.
Your EIN is the social security number of your business. Keep it well protected. You’ll use this number to open bank accounts, file tax documents, apply for loans, and many other uses. It also protects your social security number when doing business with other businesses like merchant accounts, 1099s received, etc.
To apply for your EIN you can go to IRS EIN/Tax ID Application. Make sure you pick the correct Business Entity Type.
Quick Note
You can only file online if you have a Social Security Number (SSN) or Taxpayer ID (ITIN). Otherwise, you’ll have to mail in the forms and wait for the response. If you don’t have an SSN, on Form SS-4, where it asks for your SSN, ITIN, or EIN (line 7b), write “Foreign”. Your EIN application will then be approved without the need for having an SSN.
Step 5: File Your LLC Annual Report
Your New Jersey LLC is required to file an annual report on whether your LLC does nothing or makes no money at all. To file the annual report online, go to Annual Reports and Change Services.
The filing fee is $75 and is due on the last day of the anniversary month your LLC is formed. Failure to file can result in the revocation of your business.
Quick Note
All LLCs on the inactive list will be required to obtain tax clearance certificates if they file for reinstatement more than two years after being revoked.
Taxes, Permits, and Licensing in New Jersey
To do business in New Jersey you will need to file tax returns, and hold permits and licenses in your county or city.
New Jersey LLC must apply for the necessary business licenses and or permits. This depends a lot on the type of business and the location of your business.
Aside from business licenses and permits, all LLCs must also pay appropriate taxes and meet obligations with the New Jersey Department of Treasury: Taxation.
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Putting it All Together
Now that you can set up an LLC in New Jersey online it shouldn’t take more than a day or two to get up and running. The New Jersey Secretary of State’s website is very easy to navigate and following the five steps above will help you get your talents and ideas to market faster.
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