LLC Cost in New Jersey: A Comprehensive Guide If you're considering starting a business in New Jersey and exploring the option of forming a Limited Liability Company (LLC), it's important to be aware of the associated costs. In this article, we'll provide you with a detailed description of the LLC cost in New Jersey, highlighting the various types of LCS and their respective costs. 1. Formation of an LLC in New Jersey: The cost of forming an LLC in New Jersey consists of several components such as filing fees, legal expenses, and ongoing compliance requirements. To establish an LLC, you need to file a formation document, known as a Certificate of Formation, with the New Jersey Division of Revenue. The filing fee for the Certificate of Formation is $125 as of 2021. Additionally, legal expenses may vary depending on whether you choose to hire an attorney to assist with the formation process. 2. Annual Report and associated costs: Once your LLC is formed, you are required to file an Annual Report with the New Jersey Division of Revenue every year. The fee for filing the Annual Report is $50. This report is due by the last day of the anniversary month of your LLC's formation. Failure to file the report on time may result in penalties and non-compliance issues. 3. Expedited processing fees: If you are in a rush to form your LLC, New Jersey offers expedited processing services for an additional fee. Expedited processing can significantly speed up the time it takes to get your LLC approved. The current expedited processing fees range from $25 to $75, depending on the chosen to process speed. 4. Certified Copies and Certificates of Good Standing: In certain situations, you may need certified copies or a Certificate of Good Standing for your LLC. Certified copies serve as official proof that your LLC exists, and you may require them for various purposes, such as opening a bank account or entering into contracts. The fee for certified copies is $25 per copy, and the fee for a Certificate of Good Standing is $25 as well. 5. Professional Assistance Fees: While not mandatory, seeking assistance from a professional service provider or an attorney can be beneficial to ensure proper LLC formation and compliance. The fees associated with hiring these professionals can vary depending on the complexity of your business structure, the level of guidance required, and the specific services rendered. In summary, the LLC cost in New Jersey includes the initial formation fees, annual report fees, expedited processing fees (if applicable), certified copies, and certificates of good standing. It is important to note that these fees are subject to change, and it's advisable to consult the official website of the New Jersey Division of Revenue for updated information. By understanding the various costs associated with forming and maintaining an LLC in New Jersey, you can make informed decisions and ensure compliance with the state's regulations. Remember to consult with professionals for personalized guidance tailored to your specific needs.
Llc Cost In New Jersey
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All businesses in New Jersey have an annual report that must be filed. The NJ annual report fee is $75. Even if you do not receive a notification from the state, you must file and a fee is required. Your report is due on the last day of the month in which you originally completed your business formation.
All New Jersey LLCs are required to register with the New Jersey Department of Revenue regardless of whether they collect a state tax or have employees. New Jersey LLCs are required to file an annual report. The report is due on the last day of the anniversary month of the LLC's formation.
You'll need to file for an EIN online with the IRS. There is no filing fee. You receive your EIN immediately after filing. The IRS uses EINs, also known as federal tax identification numbers, to identify businesses.
Note: The cost for forming a New Jersey LLC online and by mail are the same; they are both $125. Once the state approves your Public Records Filing, the document becomes known as your Certificate of Formation. The terms ?Public Records Filing? and ?Certificate of Formation? are often used interchangeably.
Creating your LLC in New Jersey requires you to initially submit a Public Records Filing for New Business Entity with the Corporate Filing Unit of the NJ Division of Revenue & Enterprise Services. Then within 60 days of forming your LLC, you must file a Business Registration form.