Steps to Dissolve an LLC in New Jersey
- File for Dissolution
- Tax Clearance Certificate
- Hold a Vote
Costs and Procedures
- Dissolving an LLC in NJ costs a processing fee of $100 for Domestic and $125 for Foreign LLC, additional fees may apply. Seeking legal advice can also increase expenses.
Timeframe and Procedures
The time it takes to dissolve a New Jersey LLC varies, typically around 3-5 business days, after completing required actions.
Closure Steps in New Jersey
- File the closure of your business
- File future annual reports until the business is closed
Requirements to Close an LLC
- Obtain a tax clearance certificate ensuring LLC good standing with Division of Revenue.
Costs of Closing an LLC in NJ
It costs $120 to dissolve a New Jersey Corporation, including filing and tax clearance fees.
Reinstatement
An administratively dissolved NJ company can be reinstated by filing for reinstatement and paying fees and penalties.
Additional Information
- New Jersey LLCs require annual fee payments, state income tax, and federal taxes.
- Establishing an LLC in NJ involves formation fees and filing the Certificate of Formation.
- Take into account personal and business taxes, and maintain a separate business bank account.
Closing Thoughts
Closing an LLC in NJ is crucial to avoid future penalties and liabilities, and should be handled with care to protect the interests of the company and its owners.