New Jersey Fees and Requirements (2024)

In New Jersey, the fees and requirements to form an LLC involve a clear set of steps and costs. The process starts with a filing fee for the initial registration, but the financial commitment doesn't end there. Understanding the benefits of LLC formation, such as personal asset protection and tax advantages, can justify these expenses. An operating agreement is recommended to define the business structure, which is especially important even when forming a Single-Member LLC. Requirements also include adhering to state tax regulations and submitting an annual report to maintain good standing. These components ensure your LLC operates within New Jersey’s legal framework, protecting your business and its assets.

What is an LLC?

An LLC is established in New Jersey when you file for one with the Division of Revenue and Enterprise services. Once your application is approved, New Jersey will legally recognize your business entity as separate from you. This has a few important implications that will be discussed further below. However, an essential advantage for LLC owners includes that you will no longer be held personally liable for the debts and liabilities of the company.

What are the articles of organization?

Articles of organization are part of a formal legal document used to establish a limited liability company (LLC) at the state level. A limited liability company (LLC) is a business organization type in the United States whereby the owners are not personally liable for the company's debts or liabilities. Limited liability companies are hybrid entities that combine the features of a corporation with those of a partnership or sole proprietorship. If you own a business and several assets, you may want to consider forming an LLC. Each state has different laws on forming an LLC. However, submitting the Articles of Organization is crucial in establishing an LLC in all states. This includes New Jersey. However, they are referred to as the certificate of formation.

How much does it cost to establish an LLC in New Jersey?

The main cost of establishing an LLC comes with the state filing fee. You will need to submit your articles of organization. The cost to establish an LLC in New Jersey is $125 The standard processing time is about four weeks and can vary depending on how many LLCs are currently being reviewed by the Division of Revenue and Enterprises You can expedite the process by paying an additional fee. The options for these are listed below.

• $25 for 8.5 hours
• $50 for same day
• $500 for 2 hours
• $1,000 for 1 hour

There are two main methods for forming your LLC. You can either hire a professional LLC formation service or do it yourself. The cost of a professional LLC formation service for a small fee.

What is the cost for a registered agent?

When you submit the articles of organization, New Jersey requires you to appoint a designated person or registered agent to handle your business’s legal documents, notify you of any lawsuit summons, and perform any government correspondence. If you choose to appoint a professional registered agent service, the cost will vary depending on their charges. The cost for most registered agent services is on average $50 to $100 per year. Some professional registered agent services can cost more than $100. However, if you choose to appoint yourself or a business colleague, there is no separate fee from New Jersey state. There are extra costs if you need to change your registered agent. See below for details. Note that you can expedite the processing of the two forms below with an extra $50 fee.

• $25 to notify the Division of Revenue about any changes to the registered agent or office. File form “Certificate of Change - Registered Name or Address, or Both.”
• If you file in person with the Division of Revenue, there is an additional 8.5 business hour expedite fee. The fee is $25 for LLCs and $15 for corporations.
• If you want to save costs, you can submit the registered agent change when you file your annual report.

What is the cost for an assumed name registration?

An assumed name is not necessarily required but should be considered in the following cases:

• Your LLC has established a separate brand
• You would rather use a different name to conduct business transactions rather than the legal business name.

If you want to file for a “Registration of Alternate Name” form, you must pay a filing fee of $50 and submit the assumed business name certificate to the secretary of state.

What is the cost to reserve an LLC name?

In New Jerrsey, one of the requirements when establishing your LLC, is to select a unique name that is not already registered with the Division of Revenue. You can submit an Application to Reserve a Name to ensure your desired name is available when you file your LLC. The cost is $50. This reserves the name for 120 days.

How much do business permits and licenses cost?

Depending on your LLC’s industry and location, the business permits and licenses you need to acquire will vary. You can check the New Jersey business site to check for what registrations, licenses, and permits you need to apply for.

How much does the New Jersey annual report cost?

All LLCs in New Jersey must file an annual report with the Division of Revenue. The annual filing fee is $75. There s a $3 credit card fee or a $0.50 e-check fee. The annual report is due on the last day of the month that you originally filed your LLC each year. If you file the report late, the secretary of state can dissolve your LLC. You will need to file an Application of Reinstatement and include a $75 fee for reinstatement.

In summary….

The basic cost for establishing an LLC in New Jersey costs $125, and the annual report is $75. The cost to maintain and establish your LLC will increase depending on what additional services, permits, or licenses you require.