Are you wondering if it is a wise decision to incorporate a company in New Jersey? It is definitely a good decision as you can be a part of one of the most diverse economies in the country. The economy is driven by several sectors or industries including life sciences, pharmaceuticals, advanced manufacturing, financial services, information technology, transportation and logistics. In fact, the state has a reputation of being home to the highest concentration of scientists as well as engineers in the world.
What industry would you like your business to grow in? Advanced Manufacturing, Information Technology or something different, new and innovative?
Why Choose New Jersey for Incorporation?
Some of the big brand names that have made NJ their home base include Capgemini, Johnson & Johnson, Merck, Honeywell, and Bed Bath & Beyond among others. You can also set up company in New Jersey because the state provides businesses with a platform that enables high growth.
Now let’s take a look at some of the salient benefits that are responsible for fuelling growth of small businesses:
- Grow NJ Program: This is one of the top incentive programs for those businesses that set up companies in New Jersey. The incentive program focuses on job creation and retention and businesses can benefit from tax credits that are paid on a per new or retained job basis. You can apply for these credits for a period of 10 years. Depending on the type of project, you can benefit from tax credits on a minimum amount of $500 to a maximum cap amount of $12,000. Know More
- Brownfields Remediation: The Brownfield area or zone is considered as a commercial or industrial site that is underutilized or lying vacant. You can benefit from several “Funding Programs” post incorporation in New Jersey Brownfield zone like the Keasbey Woodbridge Brownfield Development Area (BDA). You can also benefit from Federal tax incentives. Check Sites
How do you incorporate in New Jersey?
What is the process through which you can set up company in New Jersey? What type of documentation is required? Can the registration documents be filed online? If you are confronted with these questions then the following steps will help you understand how incorporation works in New Jersey:
Type of Business
What type of business do you want to form? You can choose to form a domestic or a foreign Corporation or any other business like a domestic or foreign limited liability company, partnership, General Partnerships (GP), Limited Liability Partnerships (LLP), and Sole Proprietorship. The first step towards company incorporation in New Jersey is choosing the type of business you want to form.
Business Entity Name
What is the next step towards company incorporation in New Jersey? The next step is to identify and reserve a name and this can be done as follows:
- Naming Requirements: According to NJ Rev Stat § 42:2C-8 (2013) for LLC and NJ Rev Stat § 14A:17-14 (2013) for corporation, a business name should contain the words “corporation”, “incorporated”, “limited liability company” or abbreviations like “corp.”, “inc.”, “ltd.”, “L.L.C.” or similar abbreviation.
- Business name search: You need to search for a business name that is not in use currently. You can conduct a name availability search here.
- Name Reservation: Once you have identified business entity name, you can reserve the name with the New Jersey Division of Revenue pursuant to NJ Rev Stat § 42:2C-10 (2013) for corporations and NJ Rev Stat § 42:2C-10 (2013) for LLCs.
Choose a Registered Agent
Whether you form a corporation or an LLC business entity, in order to transact business in the state of New Jersey, you will have to maintain a registered agent pursuant to NJ Rev Stat § 42:2C-14 (2013) for LLC and NJ Rev Stat § 14A:4-1 (2013) for Business Corporations.
We are one of the respected registered agents in New Jersey and will be responsible for initiating incorporation in New Jersey through processing of your “Certificate of Formation”, and “Certificate of Incorporation” for domestic entities and “Certificate of Authority” for foreign business entities.
Certificate of Incorporation and Certificate of Authority
You will be required to file “Certificate of Incorporation” pursuant to NJ Rev Stat § 14A:2-7 (2013), if your business is a domestic corporation. You will have to file a “Certificate of Authority” pursuant to NJ Rev Stat § 14A:13-4 (2013), if it is a foreign business entity. In order to streamline the process of incorporation in New Jersey, we can file documents on your behalf through the online process or through an expedited process.
Date Stamped Copies
As part of the process of company incorporation in New Jersey, we will ensure, you receive date-stamped and filed copies that verifies that the state has filed as well as formed your corporation.
Costs and Fees associated with New Jersey Incorporation
What would it cost to set up a company in New Jersey? Check Fees here!