How to Start Your LLC in New Jersey
Legal Bueno helps with everything you need to start your business. We take care of all the paperwork so you don't have to worry about it. Want to learn more about the process we handle? Keep reading!
Quick Summary:
- Filing Fee: $125
- Turnaround time: 1 business day
How do I start an LLC in New Jersey?
Thinking about starting an LLC? The process is pretty similar across the states. You'll start by picking a unique name for your business (you'll need to check to make sure it hasn't been taken!) and then filing some paperwork—usually called Articles of Organization or a Certificate of Formation—with your state's agency.
If you want to check the name availability for New Jersey, visit https://www.njportal.com/DOR/BusinessNameSearch/Search/BusinessName.
After that's taken care of, you'll want to draft a governing doc for your business called an operating agreement & find any licenses you might need. Just keep in mind that each state has its own little quirks, so it's always a good idea to double-check specific requirements for your area.
What are the costs & processing times of starting a business in New Jersey?
Here's the rundown for New Jersey:
- The filing fee is: $125
- There are ongoing fees of $75 (every year)
- It usually takes 1 business day if you're filing online or 5-7 business days (plus mail time) if by mail.
Why New Jersey is a great state for your LLC
Starting a company in New Jersey presents several compelling advantages that can significantly benefit entrepreneurs and businesses of all sizes. Here are key reasons to consider:
- Business Assistance Programs: New Jersey offers a variety of business assistance programs and tax credits aimed at supporting local businesses. For instance, the Business Retention and Relocation Assistance Act provides tax incentives for companies that help maintain jobs within the state.
- Favorable LLC Structure: Forming a Limited Liability Company (LLC) in New Jersey is straightforward and efficient. This structure is ideal for startups and small to medium-sized businesses, offering liability protection similar to larger corporations while maintaining simplified regulations.
- Low Formation Cost: The cost to form an LLC in New Jersey is relatively low at just $125, making it financially accessible for entrepreneurs.
- Administrative Ease: New Jersey's regulatory environment is designed to be user-friendly, with simple filing, management, and compliance processes. This allows business owners to focus more on growth rather than navigating complex bureaucracy.
- Tax Treatment Advantages: For eligible businesses, New Jersey may offer favorable tax treatment options which can optimize financial outcomes and enhance profitability.
Overall, New Jersey's supportive business climate, combined with its advantageous LLC structure and financial incentives, makes it an attractive choice for new ventures looking to establish themselves and thrive.
Legal Requirements
Remember! Legal Bueno will handle all of these requirements for you, but if you're interested, here are the legal requirements for New Jersey:
Articles of Organization
A certificate of formation must include: 1. The name of the LLC; and
- The street and mailing addresses of the initial registered office and the name of the initial agent at that office for service of process of the company.
A certificate of formation may also include statements as to matters other than those that are required.
N.J. Rev. Stat. § 42:2C-18
Filing fee: $125
N.J. Rev. Stat. § 42:2C-93
Filing Process
After you've prepared the initial formation documents, you need to file it! Here is what New Jersey laws require for filing:
A record authorized or required to be delivered to the filing office for filing must be captioned to describe the record's purpose, be in a medium permitted by the filing office, and be delivered to the filing office. If the filing fees have been paid, unless the filing office determines that a record does not comply with the filing requirements, the filing office will file the record and:1. For a statement of denial, send an acknowledgement confirming the filing and a receipt for the fees to the person who submitted the record; and
- For all other records, send an acknowledgement confirming the filing and a receipt for the fees to the person who submitted the record.
Upon request and payment of the requisite fee, the filing office must send to the requester a certified copy of a requested record.
N.J. Rev. Stat. § 42:2C-22
Additional Legal Considerations
Here are some additional relevant laws that might be useful when operating your business in New Jersey:
Operating agreement–scope, function, and limitations
N.J. Rev. Stat. § 42:2C-11
Operating agreement–effect on LLC and persons becoming members–preformation agreement
N.J. Rev. Stat. § 42:2C-12
Operating agreement–effect on third parties and relationship to records effective on behalf of LLC
N.J. Rev. Stat. § 42:2C-13
Certificate of standing
N.J. Rev. Stat. § 42:2C-25
Annual report for filing office
N.J. Rev. Stat. § 42:2C-26