Forming a Limited Liability Company, or LLC, in New Jersey
Written by Jason C. Henbest, Esq. and Brittany Saxton
Forming a Limited Liability Company, or LLC, in New Jersey is an exciting, but specific process. For current and future New Jersey business owners, it is essential to understand all of the steps in creating a legally sound, financially stable, and properly registered business in New Jersey.
First and foremost, it is vital to select a distinguishable business name. Even more important than a catchy business title is the inclusion of the full words or abbreviated letters “LLC” in the business name. The new business title, while distinct from other business entities on file with the New Jersey Division of Revenue, should represent the company’s overall purpose. After selecting a title, you can reserve the name for up to 120 days with the Application for Reservation of Name by mail for $50.00 if you are not quite ready to register.
Next, it is essential to complete the Public Records Filing for New Business Entity through the NJ Department of Treasury. Whatever method you choose to file this $125.00 document (online, webpage, or a paper document), you must include all the important information of your up-and-coming business. This information includes: the business name, the objective of your company, and the name and address of the managing members and registered agent.
Considering who you wish to designate as the registered agent is one of the most important steps in forming an LLC. A registered agent is a person or business entity who accepts legal papers on behalf of the LLC. Besides being dependable, a registered agent must have a physical street address in the state of New Jersey. The registered agent must understand the specifics of additional tax and regulatory requirements that may also apply to your LLC, depending on the clientele and work of your business. Any business authorized to operate in the state of New Jersey must also file annual reports, which are available online, for $50.00.
Registering the business, though, is only the first step. To be successful, you will need to help make sure that your finances are in order and that your business stays on the “right side” legally. Every situation is different, but overall, forming an LLC in the state of New Jersey is a process that cannot be adequately explained in a few short sentences.
If you are interested in forming a business in the Ocean County area, or if you are seeking legal guidance in this process, feel free to contact our office for any help that we may be able to provide.