LLC NJ Cost: Everything You Need to Know
The LLC NJ cost should be understood before deciding to form an LLC3 min read
The LLC NJ cost should be understood before deciding to form an LLC. The cost of starting an LLC in New Jersey can include various filing fees, name reservation and registration fees, expedited service fees, and more.
New Jersey LLC
An LLC, or Limited Liability Company, is a business entity that gives flexibility and limited liability to its owners or members. Federal taxes only apply to the members. Membership is open to individuals, corporations, trusts, and other entities.
The daily operations of the LLC are handled by the managers. These can be either the members or hired non-members. Members also have a tax advantage if the LLC is registered as a partnership; deductible losses may include the sum of their contribution, income, and debt.
- Name Choice for Your LLC: It's important to choose a good name for your company and check it against names registered to other LLCs within NJ. The name check does not include fictitious names or trademarks. However, checking may save you from a lawsuit, the cost of changing the name, and cost of changing marketing materials.
- Federal Tax ID Number: This is your LLC's “social security number,” which is needed for your business to have a bank account. It is also known as an Employer Identification Number (EIN).
- Alternate Name Registration: A Fictitious or Assumed Name allows you to do business without using the company's legal name. You must register your Assumed Name with the state, but you can file for multiple names.
- New Jersey Post Registration Compliance (NJPRC): This is an important document for LLCs to file in NJ. It states the company's applicable taxes and other liabilities. This must be filed within 60 days of registering your business or at least 10 days before making the first sale if collecting sales tax.
- Certificate of Good Standing: This document is the state's way of saying you are able to do business. The document may be asked for if you want to finance your business with a bank or renew a business permit.
- Taxpayer Identification Number for Foreigners: If you're a nonresident or resident alien, you may be able to get an Individual Taxpayer Identification Number. It has the same format as a Social Security Number (NNN-NN-NNNN) and starts with the number “9.”
- USDOT Number: If you have a commercial vehicle and wish to use it to move cargo or transport people, it must be registered and have a USDOT number. Those that move hazardous material need a safety permit as well.
Filing for New Business Entity
Your LLC must file with the NJ Department of Treasury's Division of Revenue. Forms should be copied and state the following:
- LLC name and main business address
- Type, purpose, and duration of business
- How it will be managed
- Members' names, address, and signatures
Forms and fees can be paid using cash, credit card, check, or money order. The forms can be sent through mail, by courier, online, or via fax. Contact the Department of Treasury for more information.
Any forms filed can take one to three business days to process, but they can be rushed for an additional fee.
A registered agent can be a state-authorized individual or corporation that has a permanent address in NJ. They registered agent can accept any legal document for the LLC and keep the members informed.
If there is more than one member, you could draft an LLC operating agreement, but NJ doesn't require you to do so. You must stay up-to-date with all legal obligations, though, such as the submission of annual reports, which are filed yearly on the LLC's anniversary month.
Limited Liability Company (LLC) Filing Fees
- Certificate of formation: $125.00
- Certificate of registration for foreign LLC: $125.00
- Amendments: $100.00
- Reinstatement: $275.00
- Certificate of Cancellation:
- Domestic: $100.00
- Foreign LLCs: $125.00
- Certificate of Correction: $100.00 (for correcting a deficiency in a filed certificate)
- Changing Registered Office, Agent, or Both: $25.00 (applies if the agent resigns without successor as well)
- Processing: $75.00
- Resignation of Registered Agent with a Successor:
- Certificate: $25.00
- Affidavit for each affected LLC: $10.00
- Reserving, Transferring, or Renewing Name: $50.00
- Registering or Renewing Alternate Name: $50.00
- Annual Report: $50.00
- Expedited Service Fee (over-the-counter transactions only):
- Per filing: $25.00
- Same-day service (by fax): $50.00
- 2-hour service, per document: $500.00
- 1-hour service, per document: $1000.00
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