Finalizing the Establishment of an LLC
You’re embarking on a new business venture and you’ve decided that a limited liability company is the optimal form for your enterprise. You’ve selected a name that won’t interfere or unfairly compete with an existing business and you’ve appointed a registered agent to accept service of any legal papers or documents. There are just a few steps left to make your new commercial entity official.
File with the State of New Jersey
To create a new legal entity in the form of a limited liability company, you must complete and submit a “Public Records Filing for New Business Entity” with the Division of Revenue and Enterprise in the state’s Department of Treasury. There’s also a filing fee that must be paid. Your filing must be signed and must include:
- The name of your new company
- The business purpose of your company
- The anticipated dissolution date of the company, if there is one
- The name and physical address of your registered agent
File with State and Federal Tax Authorities, If Necessary
New Jersey allows the formation of an LLC with only one member. If you do that, you don’t need to obtain a separate tax ID for the LLC. If, however, you have more than one member, you must get an EIN (Employer Identification Number) from the Internal Revenue Service, even if you have no employees.
You must also register with the New Jersey state Division of Revenue, whether you have any employees or not.
An Operating Agreement is Optional
New Jersey law does not require that you execute an operating agreement, but if you have more than one member, it’s highly recommended. This agreement typically sets forth the rights and responsibilities of all members, as well as how the LLC may be terminated.
Contact Attorney Howard N. Sobel
At the office of Howard N. Sobel, we provide comprehensive legal counsel to businesses and business owners. Contact our office online or call us at 856-424-6400 to set up a free initial consultation. Evening and weekend appointments can be arranged upon request. We accept all major credit cards.
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