how much does it cost to start an llc in new jersey [Solved]

Last updated : Aug 8, 2022

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ready to incorporate an llc in new jersey but unsure where to begin today you will learn about the most common ways to start your business including the correct forms you'll need how to register your llc critical naming requirements and all other important tips and tricks then as a bonus later on in the video i will reveal to you a trustworthy registered agent who will help set up your llc for free so make sure to stick with me until the end new jersey llc's are cost effective and easy to set up the state of new jersey like other states has several specific llc requirements there are three main ways you can start an llc in new jersey first is the diy or do-it-yourself process where you mostly depend on new jersey state's website the second way is hiring a professional service that practically offers more efficiency and security in the process of creating your llc while the third one is hiring an attorney we will skip the attorney hiring portion because that's expensive and most business owners won't need that service first let's take a look at the steps required for starting an llc on your own step one name your business before anything else you will have to think of the llc's legal business name each llc in new jersey must have a distinct llc name that is not currently in use you must include the terms limited liability company or an abbreviation such as llc you cannot include phrases such as a corporation which would lead people to believe you are a different business organization knowing if your business name is taken or not is very easy just go to google and type in the words business entity records new jersey secretary of state and click the first search result i also have the link in the description below for your convenience it will lead you to a landing page of business entity records in new jersey scroll down a little and you will see some search options which makes checking the availability of your business name easier generally you can click the first option entity name and type in your business name for example i am typing a very common business name here car wash express which will give you a list of existing business names a unique business name will say no matches found just like this random name i typed in keep in mind that the division of revenue doesn't check names for trademark compliance it's ultimately up to you and your business attorney to ensure that your llc's name doesn't infringe on any other company's rights step 2 new jersey requires llc to have a registered agent an agent has a physical address a po box is not allowed and is available during business hours this agent will serve as the llc's primary point of contact for receiving key legal papers tax warnings summons subpoenas and so on you can register yourself or someone in your company but i highly recommend getting a professional registered agent as they have more knowledge by protecting your company in cases of possible cracks while i agree that family members or friends are reliable enough to be trusted as your llc's agent you are more comfortable sleeping at night knowing that your agent is professional and trained to manage legal documents to avoid problems concerning court schedules filing reports with the secretary of state etc besides hiring a professional registered agent is not expensive in fact there are companies who offer a free registered agent as part of your package when you form your llc through them inc file is a company i recommend which has this free service inc file offers a free registered agent on your first year of signing up for their service during that free year you can already take advantage of a professional and trained agent to receive legal documents on your behalf a dashboard where you can always access the correspondence that your agent has received as well as email notifications and automatic forwarding whenever your registered agent receives documents step 3 filing the new jersey llc certificate of formation after that you must file the certificate of formation with the new jersey secretary of state's business entities division and the office of the judge of probate to officially incorporate a domestic new jersey limited liability company the new jersey state filing cost for llcs is 125 dollars for both domestic llcs and foreign llcs what's the difference good question basically a domestic llc means that you are already a resident of new jersey and you want to build a business in new jersey foreign llc on the other hand is for people living outside new jersey but wanting to start a business or a franchise of their business in new jersey you can file the certificate of formation online or by mailing it to the secretary of state expect the llc certification process to take approximately two weeks this is three to four days for the judge of probate and 10 days for the secretary of state for an extra 100 you can grab the offer to accelerate the process which reduces the secretary of state's filing time from 10 days to 3 days so if you're in a rush this extra fee may be worth it step 4 prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your llc has more than one member although a limited liability company operating agreement is not necessary for new jersey your operating agreement should clarify how your company or business will handle big picture issues such as allocating earnings and losses and dissolving the company your operating agreement should also cover the transfer of membership interest profits or losses and distributions initial investments decision-making powers voting rights and management and lastly dissolving the business step 5 obtain an ein an ein or employer identification number is a federal tax id issued by the irs your ein is used by them to readily identify your firm and tax filings all new jersey firms pay a business privilege tax and the state requires you to have an ein to file you may also be required to provide your ein when opening a bank account or applying for municipal permits or licenses obtaining an ein is a slightly longer process compared to their previous steps i'm sure you know anything to do with the irs is confusing first you have to have complete knowledge of your llc such as your company information managing member information business address business information company details and even critical information regarding vehicular assets and federal excise taxes this is another reason why getting a professional registered agent is way more convenient as they can do this for you as part of their service file annual reports new jersey llcs also have to file an annual report accompanied by a filing fee of 50. to seventy five dollars the report is due on the last day of the anniversary month of the businesses formation for example if you filed your certificate of formation on march 3rd your annual report would be due by march 31st of the successive year and each following year the annual report keeps your business's information such as your registered agent's name and address up to date with the state now let's talk about

Thanks for your comment Shea Blehm, have a nice day.
- Herta Felico, Staff Member

how to form an LLC in New Jersey if you are interested in starting an LLC in the Garden State you have good reason New Jersey has a highly educated population and ranks third and fastest startup growth in the country every state has slightly different requirements performing an LLC follow along closely to learn the required steps for creating your own limited liability company in the state of New Jersey there are two ways to form an LLC in New Jersey you can form one yourself or you can hire a service to do it for you let's start by looking at the six basic requirements to form an LLC in New Jersey on your own you can also find these steps in more detail on our website linked in the description below 1 name your LLC every state has its own rules about what kind of names are allowed for LLC's in general you will need to observe these naming guidelines your name must include the phrase limited liability company or one of its abbreviations LLC or LLC with a period following each letter restricted words such as Bank Attorney law office etc may require additional paperwork and may also need a licensed professional to be part of the LLC your name cannot include words that could confuse your LLC with the government agency such as FBI Treasury State Department etc you cannot use a name that has already been registered to see if your name is available in your state you will need to do a name search this free service is available on your state's Secretary of State website check out our free guide for finding the direct link to your state we also recommend that you check to see if your business name is available as a web domain even if you don't plan to make a business website today you may want to buy the URL in order to prevent others from acquiring it to choose a registered agent New Jersey requires that you nominate a registered agent for your LLC who is your business's point of contact with a state the registered agent can be an individual within the company including yourself or you can hire professional service authorized to do business and New Jersey they will send and receive legal papers on your behalf these documents include official correspondence like legal summons and document filings which your registered agent will receive and forward to you your registered agent will help remind you to file the nest Serah reports failure to properly maintain your LLC can result in fines and dissolution so this assistance is valuable 3 file the certificate of formation to register your LLC you will need to file the certificate of formation with the state of New Jersey this can be done online by mail or in person when forming your LLC it's a good time to consider whether your LLC will be member managed or manager managed member managed means all members of the LLC manage the company this is good for small organizations where everyone is involved in day-to-day operations the second option is manager managed where individuals are appointed to manage the LLC this is appropriate for larger organizations where not everyone is involved in the day-to-day affairs of the business for register your business for tax and employer purposes all LLC's in New Jersey are required to register with the New Jersey Division of Revenue and Enterprise Services for business entity and tax filings within 60 days of formation this filing will make sure your business receives a New Jersey tax identification number allowing you to receive all proper returns and notices you can do this either online or by mail 5 create an operating agreement although not every state requires it you should always create an operating agreement to establish ownership terms and member roles for your LLC this foundational document is the core of your LLC and will help you maintain your organization as well as further establish your LLC is a separate legal entity there are six main sections of an operating agreement organization outlines when and where the company was created who the members are and how the ownership is structured management and voting addresses how the company is managed as well as how the members vote capital contributions covers which members financially support the LLC and how more funds will be raced in the future distributions outlines how the company's profits and losses are shared among members membership changes describes the process for adding or removing members as well as if and when members can transfer their ownership shares and dissolution which explains the circumstances in which the LLC may be dissolved an operating agreement is an internal document it does not need to be filed with the state how it should be updated every time there is a change in membership or management at the company you can download a free sample operating agreement or create a custom one using our free operating agreement tool at how to start an LLC com6 obtain an EIN lastly you'll need to get an employer identification number or ein from the IRS also known as a federal tax identification number your EIN is like a social security number for your LLC and is how the IRS tracks your business for tax purposes an EIN is also necessary to open a business banking account and legally hire employees Aeons are free of charge and can be obtained from the IRS online or through the mail and with that you'll have formed a New Jersey LLC on your own option to hire a professional service the second way to create a New Jersey LLC is to hire professional service to create your LLC for you hiring a professional service to file your forms and act as your registered agent for the LLC will cost you an additional fifty to one hundred and fifty dollars however there are several benefits to working with a pro a higher registered agent helps with getting your reports filed on time helps you stay organized by keeping your business mail separate and is available at all regular business hours to accept official mail and legal papers on your LLC's behalf a final and important additional benefit of using a services privacy a professional service will provide a level of privacy by withholding your personal name and home address from the LLC's contact information there are many reasons you might not want your personal information easily accessible and associated with your business hiring a professional LLC for mation service is an easy way to accomplish this now that you've seen the different requirements and ways you can form an LLC in New Jersey visit our site and take some time to research your options and establish a solid foundation for your business activities click on the links in the description below to research the top five professional formation services or get more information on how to form a New Jersey LLC on your own now you know all the steps to form an LLC in your state for a more detailed guide go to how to start an LLC com you can also create an operating agreement and use our business plan tool free of charge give the video a like if you found it useful and subscribe if you'd like to see more and if you have questions or encounter any roadblocks leave a comment below good luck and starting your small bu

Thanks sarbear41605j your participation is very much appreciated
- Herta Felico

About the author

Herta Felico

I've studied extragalactic astronomy at St. Thomas University in Miami Gardens and I am an expert in atmospheric science. I usually feel flirty. My previous job was photo-optics technician I held this position for 28 years, I love talking about volunteering and art collecting. Huge fan of Lil Dicky I practice kickboxing and collect games.