Known as the “Crossroads of the East,”, New Jersey’s economy is driven by several different industries with the major league players being manufacturing and distribution. It is considered as the greatest chemical producing state and is home to over 15,000 factories. If you register a new company in New Jersey, you can be rest assured that it will be a key player in a growing economy.

Advantages of setting up an LLC or Corporation

As a business grows, the economy also grows and vice-versa. Ever wondered what factors drive business growth? Of course, infrastructure plays a key role for a start-up company in New Jersey but apart from that, it also depends on the type of business you form. For example, a limited liability company has several advantages over a general partnership. Let’s take a quick look at some of the advantages of forming an LLC or a Corporation in New Jersey.

Advantage#1: Salient benefits of Corporations or LLCs

Corporation

• Grow New Jersey Assistance Program (Grow NJ): Grow NJ is a program targeted at start-up companies in New Jersey and you can benefit from tax credits on job creation and retention. This incentive program is aimed at strengthening the state’s competitive edge in the global marketplace. Businesses may be eligible for tax credits that range from $500 to $5,000 per job, per year; and then there is the bonus credit that ranges from $250 to $3,000 per job, per year. More Information
• Independent Life: One of the salient advantages of an S Corporation in New Jersey is that it enjoys an independent life. The death or incapacitation of a stockholder will not disturb operations of the business.
• Pass through taxation: If you register a new company in New Jersey as an S corporation then the corporation or firm will not pay any income tax. Instead, the income or loss of the corporation will be passed on to the stockholders.

LLC

• Sales and Use Tax Exemption (STX) Program: One of the advantages of a start-up company in New Jersey is the Sales and Use Tax Exemption (STX) Program. Businesses that make specific purchases for renovation and construction of a new business facility or location will be eligible for a sales tax exemption. The exemption is valid on purchase of equipment, machinery, fixtures, furniture and furnishings, and building materials used for the project.
• Limited Liability: If you register a new business in New Jersey as an LLC then you will be able to enjoy limited liability protection. This means claimants can sue the LLC and not the owner or investors.
• Flexible Profit Distribution: An LLC has the benefit of being able to select different ways of distribution of profits.

Advantage#2: Business Incentives

There is a variety of business incentive programs available for small and medium enterprises or start-up companies in New Jersey. Let’s look at some of the top programs in New Jersey.

• Premier Lender Program: Starting a new business can be such a tough task unless you have access to financing options and this is where the state of New Jersey can help. The “Premier Lender Program” is a low cost financing option through which a start-up company in New Jersey can receive a loan of up to $2 million or up to $1.5 million in loan guarantees on fixed assets.
• Garden State Growth Zone Business Lease Incentive: This is another good program for new as well as established businesses. The program known as the Garden State Growth Zone (GSGZ) Business Lease Incentive (BLI) offers reimbursements to both profit and nonprofit businesses. The reimbursement is a percentage of the annual lease payments and eligible areas need to be between 500 – 5,000 sq.ft. This program is available in five Garden State Growth Zones, which are Camden, Atlantic City, Passaic, Trenton, and Paterson. More Information

Are there any Disadvantages of Incorporating in New Jersey?

When you register a new business in New Jersey, you can be rest assured that there is a wide variety of business incentives to leverage but are there any disadvantages? The disadvantages are limited to the type of business entity you form. For instance, an LLC can get dissolved when a member dies or if it undergoes bankruptcy. Similarly, the process of incorporation may lead to higher overall taxes. The disadvantages will not affect business growth keeping in mind the incentives and infrastructure offered by the state.

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Once you have taken the decision to form a business in the Garden State, you need to ask yourself: what else do I need to make my business operational? Registration of your business is the first step but until and unless you have a permit or business license, you will be unable to operate in the state. The licenses, the validity, the fee, and issuing authority vary according to the type of business or industry as well as the physical location of your business.

It is important to know that there are certain licenses issued by the state of New Jersey while for certain types of services, a business license may be issued by the city or county. You may even require more than one licence depending on the type of business.

New Jersey Business License Requirements

What are the requirements for obtaining a business license in New Jersey? Which business entities require a license and which requires permits? Who is the issuing authority for these licenses? These are some of the important questions that you might be confronted with and hence, we have created a guide that will help you answer some of these questions.

The most important step towards acquiring a company licence in New Jersey is identifying the type of business.

Step#1: The Industry or Business Type

How would you know what type of business or professional license is required to operate in New Jersey? Which type of business license is issued by the state? The type of industry or the activities of a business entity helps in identifying the type of business license required.

In the state of New Jersey, issuance of licenses is coordinated under specific projects. In order to understand this, let us take a look at some examples:

• The Dairy, Juice, and Bottled Water Project is responsible for regulating wholesale business establishments that produce or process cheese, milk, bottled or bulk water, frozen desserts, and fruit or vegetable juice. The project enforces the Pasteurized Milk Ordinance (PMO), for determining implementation of good manufacturing practices. A business license in New Jersey is issued only after field visits to the establishment is satisfactory or in accordance to the plans laid out by the state.
  – Managed by: New Jersey Department of Health (NJDOH)
• The Retail Food Project is aimed at the food service and retail food industry. The enforcement of New Jersey’s retail food rules (NJAC 8:24-1, – Chapter 24: Sanitation in Retail Food Establishments and Food and Beverage Vending Machines) has to be followed in order to be issued a New Jersey company license. As a part of the project, inspection of food services is also inspected in all areas including at the NJ Transit Rail Stations, on the New Jersey Turnpike, and the New Jersey Sports & Exposition Authority.
  – Managed by: New Jersey Department of Health (NJDOH)

Step#2: Licenses issued by City/County

If your business or industry type doesn’t fall under a statewide license project then you will have to check with the local city or county office. A New Jersey company license can also be issued by local counties or cities in which the business is located. Let’s look at an example to understand how this works.

If you form a business in Atlantic City, NJ then a business license will be issued by the Office of the Licensing & Inspection Director, Licensing and Inspections Department of Atlantic City. The license or permits are issued for several types of businesses including Construction/building services, sale of any goods, coin-operated machines, events including flea market, casino hotels, fresh fruits and vegetables vending, and vending machines among others.

Sample Business License Application

It is important to understand that each city will have different license requirements, fee, and application procedures.

Step#3: Issuance of a Business License

How is a business license in New Jersey issued? You have to identify the following to complete the process:

1. The type of business or industry
2. Do you need a license or a permit?
3. Do you need a single license or multiple licenses?
4. Will it be issued by the state or the city?

Once you have identified the above, all you need to do is either download the application online or contact the concerned state department or city or clerk office. The validity of a business license is normally one year from the date of issue although different cities and counties have different dates. For instance, some licenses in Atlantic City, NJ expire on July 31 while some expire on October 31.

The fees for a license varies from city to city and you will have to check with the state or city licensing department to know the exact fees.

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Once your company is set up, you will need:

1. Tax ID (EIN) – free over the Internet or phone.
2. Yearly Requirements and Fees for New York companies – Law requires a notice to the formation of a limited liability company (LLC) to be published in two newspapers. The newspapers must be designated by the county clerk of the county in which the office of the LLC is located. An affidavit of publication from each newspaper must be filed with the Department of State. The fee for filing each affidavit of publication is $25.00. Each affidavit of publication must be enclosed in a white backer/cover sheet which sets forth the title of the document and the name and address of the filer.
3. Company Minutes & Stock Certificates – are included in incorporation. You will have access to documents generated on your client account.

New York additional services

• Registered Agent
• Annual Report
• EIN (Tax ID)
• More Additional Services

• Why New York?
• New York Registered Agent
• New York Annual Requirements
• New York Corporation Statutes: New York State Consolidated Laws, Business Corporations (BSC), Article 1 – 15A, Sections 101 thru 2001

Our service does not include publishing requirements
Section 206 of the Limited Liability Company Law requires that within 120 days after the effectiveness of the initial articles of organization, a limited liability company (LLC) must publish in two newspapers a copy of the articles of organization or a notice related to the formation of the LLC. The newspapers must be designated by the county clerk of the county in which the office of the LLC is located, as stated in the articles of organization. After publication, the printer or publisher of each newspaper will provide you with an affidavit of publication. A Certificate of Publication, with the affidavits of publication of the newspapers attached, must be submitted to the Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231. The fee for filing the Certificate of Publication is $50.

• Why New York?
• New York Registered Agent
• New York Annual Requirements
• New York LLC Statutes: New York State Consolidated Laws, Limited Liability Company Law (LLC) , Article 1 – 14, Section 101 thru 1403

Pricing $89.00 per year, special for pre-pay $40 per year

Don’t get fooled by companies claiming the lowest price and increasing it later. Our pricing is very simple. We charge $89 per year. We also have few specials. Whenever you decide to pre-pay additional years you get them for $40/year.

Why you need a Registered Agent?

New York State laws require business entities to maintain a Resident Agent in the state that you form your business. The agent’s name and office address are included in the Articles of Incorporation or Articles of Organization to give public notice of where to send important documents to your business entity.

If you need Registered agent in other State than New York click here.
We offer Registered Agent service in all 50 States.

State Fee for changing New York Registered Agent

Resignation of Registered Agent for Corp: $60.00; Resignation for Registered Agent for LLCs: $20.00

Registered Agent Requirements

The agent shall be a natural person who is a resident or has a business address in this state or a domestic corporation of any type or kind formed, or authorized to do business in this state.