Each state has its own requirements for forming an LLC (Limited Liability Company), including New Jersey. The filing office for forming a new LLC is the NJ Division of Revenue, not the Secretary of State’s office as is the case in most states. New Jersey also requires a second form (NJ-REG) to be filed with the Division of Revenue shortly after formation. Read on to learn more about New Jersey’s requirements to help you determine if this is the state where you want to form your LLC.
NJ LLC name requirements
The name of your LLC must contain "Limited Liability Company", "LLC" or "L.L.C." “Limited” may be abbreviated as “Ltd.” and “Company” as “Co.” The name must not contain any word, phrase, abbreviation or derivative thereof the use of which is prohibited or restricted by any other New Jersey statute, unless the LLC has complied with the restrictions. The name must be distinguishable on the records of the filing office from the names of other domestic and foreign LLCs and other business entity types.
The following are New Jersey’s requirements for the members and managers of LLCs:
- Minimum number: LLCs must have at least one member
- Residence requirements: New Jersey does not have a provision specifying where members/managers must reside
- Age requirements: There are no age requirements
- Inclusion in the formation document: Member/Manager names and addresses are not required to be listed in the Public Records Filing for New Business Entity form
You must provide the name of the LLC’s registered agent, along with the address of its registered office in New Jersey. The address must be a physical, street address—not a post office box.
Requirements for filing to form an LLC
New Jersey, unlike most states, uses a single form for the creation of all statutory entities, including LLCs. In New Jersey, you form an LLC by filing a completed “Public Records Filing for New Business Entity” form and paying the required fees. The information that must be provided includes –
- The LLC’s name
- Purpose – New Jersey allows a general purpose statement
- Duration – Required only if the existence is not to be perpetual
- Registered Agent’s name
- Registered office address – must be a street address
- Main business or principal business address
Additional formation requirements
In New Jersey, your formation paperwork obligations don’t end when you file your “Public Records Filing”. You must submit Form NJ-REG (Business Registration Application) within 60 days of filing the Public Records Filing. (You do have the option of filing both forms at the same time.) The NJ-REG asks for extensive information related to taxation.
Professional services businesses
New Jersey does not have specific provisions for a Professional Limited Liability Company, but it does allow professionals, such as accountants, attorneys, and physicians to form a regular LLC.