Forming an LLC in New Jersey
Forming an LLC in New Jersey in 7 easy steps
- Pick a suitable name that contains and LLC identifier. Examples of commonly used LLC identifiers are “Ltd Liability Co”, “L.L.C.” and “LLC”. You must avoid names that are already used by other LLC’s and you must naturally adhere to trademark law. If you want to use terms such as blind” or “handicapped”, or any other word that implies such impairments, you have to be approved by the Attorney General first.
- Involving an attorney is not required by state law when forming an LLC in New Jersey, but it is advisable since a faulty Operating Agreement can lead to tax problems for the LLC and its members. Paying the attorney fee is a way of reducing the risk of future IRS difficulties.
- File the Articles of Organization at the New Jersey State filing office and pay the filing fee. The New Jersey fee for expedited filing is $153.00. (For 17 business days.)
- During step for, the members of the LLC with have an Organizational Meeting where they adopt the Operating Agreement.
- Your LLC can now obtain its own FEIN (Federal Employer Identification Number).
- Contact a bank to open up a company bank account for your LLC.
- Don’t forget to apply for local business licenses from the cities and counties that you will be doing business in. Also check if you need any permits.
Maintaining an LLC in New Jersey
LLC’s in New Jersey are required to hand in annual reports. The due date for the annual report varies; contact the New Jersey State filing office in order to find out the due date for your LLC. The annual report fee is always $50.
