Incorporate In New Jersey

Home to some of the largest companies in the USA, like Johnson & Johnson and Honeywell International, New Jersey has a thriving business community.

The state attracts investors in key industries such as pharmaceuticals, agriculture and tourism. It is the second highest earning US state by median household income.

Benefits of incorporating in New Jersey:

Protection of personal assets

People looking to incorporate in New Jersey should feel confident knowing that their personal assets are well protected. Corporations and limited liability companies separate the assets and liabilities of companies from the personal assets of the business owner.

Ability to open bank account

Forming a company is the first step for a non US resident to open a bank account. A US bank account gives businesses access to a debit card, and the potential to open a merchant service account. Internet commerce is made much easier with a US bank account because companies like PayPal, Amazon and EBay considered you more qualified as a vendor.

Enhanced credibility

Whether starting a new business or incorporating an existing one, incorporation makes a business appear more credible to potential customers, suppliers and investors. You also have the security of operating under US law.

Your corporate name can boost your brand

New Jersey requires that C corps and LLCs not have a name that is the same or could be confused with a business already in existence. To make sure your business name is eligible Inc. Plan can help you choose a unique C corp or LLC name. A distinctive corporate name enhances your company’s reputation and also helps protect the identity of your brand.

Tax flexibility and benefits

In New Jersey business owners are free to operate their business entity as a C corp or an LLC. The type of business entity you choose determines the nature of the taxes your company will be subject to. C corps are assessed taxes based on their net corporate income and their company net worth. LLCs are taxed based on their members’ personal income.

Residency Requirements

There is no legal specification which implies that business owners choosing to form a company in this American state must own a New Jersey physical address. Your will need a registered agent with a legal, physical New Jersey address. However, before your firm is legally eligible to operate, make sure you possess all the required business licenses, permits, and tax registrations. If you need help, Inc. Plan can become in compliance with all requirements.

Other incorporating requirements

New Jersey C corps and LLCs must have at least one member. New Jersey requires directors be listed on corporate documents filed with the state. An EIN is required for companies that plan to hire employees.

Requirements for forming an LLC in New Jersey:

When forming a Limited Liability Company certain steps must be taken to keep the business in compliance on an ongoing basis.

Name requirements for LLCs

LLC names are allowed to end with the terms “Limited Liability Company” or the abbreviations “LLC” and “L.L.C”. The state prohibits the terms “Realtor”, “Olympic”, “Trust” or “Little League” from being used in the name of an LLC.

LLC filing requirements

Entrepreneurs looking to form LLCs in New Jersey must file a certificate of formation with the state. Additionally, New Jersey-based LLCs are required to submit an annual report before the anniversary of formation.

Required information for the Certificate of Formation

The Certificate of Formation must include the name and address of a registered agent who resides in New Jersey and who is available to manage legal and tax business documentation. For more help with the initial corporate filing or with registered agent services feel free to contact Inc. Plan (USA).

LLC taxes and fees

For tax purposes, New Jersey LLCs will be subjected to federal rules. Therefore, LLCs assessed taxes based on their members’ personal income. LLCs can elect to be taxed as C-corps.

Requirements for forming a C corporation in New Jersey:

Each of the 50 American states has its requirements for incorporating. The essential requirements for C corporations established in New Jersey are as follow:

Name requirements for C corporations

The organization names allowed in New Jersey must include the terms “Company,” “Corporation” or “Incorporated,” along with their abbreviations. The state prohibits use of the terms “Realtor,” “Olympic,” “Trust” or “Little League” in company names.

Filing requirements in New Jersey

Entrepreneurs looking to form C corps in New Jersey must file a certificate of Incorporation with the state. Businesses must submit an annual report due before the end of the incorporation’s anniversary month.

Required information for the Article of Incorporation

The certificate of incorporation must list the company’s authorized shares and their par value. It must include the names and addresses of the initial board of directors. The certificate of incorporation must include the name and address of a registered agent with a physical New Jersey address. Inc. Plan (USA) can help you with the initial corporate filings and also provide qualified registered agent service..

Taxes and fees requirements

The state of New Jersey imposes corporate income taxes C corps based on net income generated in the state. The minimum corporate income tax rate is 6.5%. Corporate income tax rates vary according to the income level of a business.

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