Should you form your LLC in New Jersey? We’ve collected the relevant information that will help you make this decision.
- No state or federal taxes for LLC
- Home to one of the top 20 metro areas in US
- Qualified workforce
- Tax rate of 6.37-9%
- High property tax rates
Cost of doing business
- $125 filing fee / $50 annual statement
- Owners disclosed in original filing
Forming an LLC in New Jersey
In order to communicate to the public that your new business is an LLC, its official name will need to end with one of the following signifiers (or abbreviation of): “Limited liability company”, “LLC”, or “L.L.C.” In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. There are also restrictions placed on the use of terms common to amateur athletics, as well as the banking and real estate industries. Do a FREE name search now.
The owners of an LLC are called “members”. The following information must be required regarding your LLCs members:
- Required number of members
New Jersey LLCs must have at least one member or manager listed in their incorporation documents.
- Age restrictions
LLC members in New Jersey must be at least 18 years of age.
- Residence restrictions
There are no residence restrictions imposed on LLC members in New Jersey.
- What information needs to be included in the Certificate of Formation?
LLC Members in New Jersey are required to list their name and address in their Certificate of Formation.
Requirements for the Certificate of Formation
The Certificate of Formation is a document that must be filed during the LLC formation process. Here is the information that must be included in this document when filing in New Jersey:
Registered agent information
All New Jersey LLCs must have a registered agent on file, and submit their name and address (which cannot be a PO box). This agent will be required to be accessible during standard business hours, and act as the state’s point of contact with the company. Learn more about registered agents.
If your business is a professional practice
Professional service companies are not permitted to form under the professional limited liability company (PLLC) structure, however they may form as traditional LLCs.
New Jersey LLC taxation and fee requirements
There are several tax and fee requirements that must be addressed by LLCs in New Jersey. They are as follows:
All states have complex taxation requirements. For more information regarding taxes in New Jersey, it is advised that you visit the state’s official business related website.
Annual report requirements
LLCs in New Jersey are required to file an annual report every year during the month of the company’s incorporation anniversary date. The cost of this filing is currently $50. Learn more about annual reports.
Tax identification numbers
New Jersey requires an EIN (employee identification number) for all LLCs that will have employees, and most banks will require one to open accounts. New Jersey does not require LLCs to obtain state tax ID numbers. Learn more about EINS.
Business license requirements
The business licenses and permits required in New Jersey vary wildly depending on the county or municipality in which your new LLC is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers these topics. Learn more about business licenses and permits.
Need a New Jersey corporation instead? Click here.