Steps to Start a Limited Liability Company (LLC) in New Jersey
Prepare your Certificate of Formation and file it to register your LLC properly. Your LLC name must be unique and distinguishable. You can check availability and reserve a name.
Advantages of Forming an LLC in New Jersey
One advantage of an LLC is limited liability protection. Members are not personally responsible for debts. New Jersey LLCs benefit from flexible tax options. Profits and losses can be reported on personal returns.
Requirements for Professionals Forming an LLC in New Jersey
New Jersey does not allow professionals to form professional LLCs; however, professionals may incorporate as an LLC. In New Jersey, a PLLC is an LLC formed by licensed professionals.
The first step is choosing an LLC name. It will represent your company on documents. Consider options carefully.
If you form a Delaware LLC but operate in New Jersey, you’ll register in New Jersey and pay fees and taxes anyway. This leads to extra costs with no advantage.
The registered agent must be a New Jersey resident or authorized service. This information becomes public record. In New Jersey, an LLC doesn’t require a business license. You may need permits depending on your business.
Professionals can form an LLC with licensed members. You may need to show your certificate of formation to banks.
All LLCs must register and pay annual taxes over $125 per member. You’ll have registered when completing the Business Registration Application.
An EIN is important to file taxes, open a bank account or get a loan. You also need it to register for taxes. File online for fastest processing.