How much does a New Jersey LLC cost?
Forming an LLC in New Jersey costs $125, but that’s just the filing fee for the Public Records Filings/Certificate of Formation. What about the other costs to form a New Jersey Limited Liability Company?
Besides the $125 filing fee, there are a few other costs to consider before forming an LLC in New Jersey. Things like whether or not you want to hire a Registered Agent and the LLC’s Annual Report.
New Jersey LLC Costs:
|Registered Agent||$0 or $125 (per year)|
|Public Records Filing||$125 (one-time)|
|Annual Report||$75 (per year)|
|Minimum Partner Tax||$150 per member (if 2 or more members)|
|Taxes||Varies (paid each year)|
New Jersey LLC Name ($0)
There is no cost ($0) associated with naming your New Jersey LLC. You are not required to file a Name Reservation or anything like that.
You’ll simply just enter your desired LLC name on the Public Records Filings/Certificate of Formation. Once the state approves your filing, your LLC name goes into existence.
Make sure you review the New Jersey LLC Name rules and requirements.
New Jersey Registered Agent ($0 or $125/year)
New Jersey law requires you to list a New Jersey Registered Agent when you file the Certificate of Formation to start your LLC.
Although some people choose to hire a Registered Agent, you are not required to hire one when forming a Limited Liability Company in New Jersey. Instead, you can be your own Registered Agent in New Jersey or ask a friend/family member to be the Registered Agent.
So there are no costs associated if you (or someone you know) will be your LLC’s Registered Agent. There is no registered agent fee when you list a Registered Agent on your LLC formation documents.
On the other hand, if you need to hire a Commercial Registered Agent, that will cost about $125 per year.
Hiring a Commercial Registered Agent is beneficial if you want to keep your address off of public records.
New Jersey LLC Public Records Filing/Certificate of Formation ($125)
Forming an LLC in New Jersey requires filing a Public Records Filing for New Business Entity.
This can be filed online and the LLC filing fees are $125. That LLC cost is a one-time fee paid to the Department of State.
We recommend filing this online since it’s much easier (and has a faster approval time) than filing by mail.
Note: The cost for forming a New Jersey LLC online and by mail are the same; they are both $125.
Once the state approves your Public Records Filing, the document becomes known as your Certificate of Formation.
The terms “Public Records Filing” and “Certificate of Formation” are often used interchangeably.
New Jersey LLC Registration ($0)
Every LLC in New Jersey is required to register with the Division of Taxation within 60 days of being formed (or within 15 days of beginning business). The process is called the NJ LLC Tax Registration.
This doesn’t cost anything ($0 filing fees) and it can be done online. It will probably take you about 15 minutes to complete this step.
The mail registration form is called the NG-REG, but when you register your LLC online, it’s called the Business Registration Application.
New Jersey LLC EIN Number ($0)
Note: An EIN Number is also known as an Employer Identification Number or a Federal Tax ID Number.
Other websites sell this as a service, however, there is no actual costs associated with getting an EIN for your LLC.
You can apply for an EIN for your LLC for free ($0) on the IRS website. Use our step-by-step EIN Number guide for help.
New Jersey LLC Operating Agreement ($0)
Every New Jersey LLC should draft and sign an Operating Agreement. This document states how the business is run and how much of the company each Member owns.
Most other websites sell Operating Agreements for $50 to $200. However, we offer free Operating Agreement templates for your New Jersey LLC that you can download and customize.
New Jersey LLC Annual Report ($75/year)
All New Jersey LLCs must file an Annual Report each year. The New Jersey Annual Report cost is $75 per year.
(The Annual Report fee used to be $50 per year, but in July 2019 the state increased it to $75 per year.)
It is due each year on the last day of your LLC’s anniversary month (the month your LLC was approved).
Learn more about NJ LLC Annual Report requirements.
New Jersey LLC Taxes (varies)
There are many different types of NJ LLC Taxes that business owners must pay. Federal income tax, payroll tax (if you have employees), sales tax (aka sales and use tax), and more.
How much you’ll pay in taxes can be determined by working with a qualified accountant in your area.
The amount you’ll pay your accountant will also vary, but most accountants for a new business starting out will cost between a few hundred dollars per year to about $1,000 or $1,200 on the more expensive end.
Note: If your New Jersey LLC elects S-Corporation taxation, there is a minimum tax due each year of $375. That minimum tax goes up depending on the LLC’s gross receipts (total revenue).
Do I need to hire an attorney?
While you certainly can hire an attorney to form an LLC, this is not a requirement.
Hiring an attorney to form an LLC could cost anywhere from $500 to $2,500, depending on who you hire.
On the other hand, if you’d like to follow our free LLC lessons, you can form an LLC in New Jersey yourself. There is no cost associated with following our course (links are at the top of this page).
Should I hire an LLC filing service?
While you can also hire an LLC filing service to form an LLC in New Jersey, this is not a requirement either.
Hiring an LLC filing service can cost anywhere from $50 to a few hundred dollars.
How much does a New Jersey Foreign LLC cost?
New Jersey has specific rules for how to register a foreign business (a business entity that is originally formed in another state, but either has employees or business operations in New Jersey). The Business.NJ.gov Out-of-State Business Registration page can help you navigate the process.
A Foreign LLC might not need to file a registration document with the Department of State, so there may not be any fees. It just depends on what your specific LLC is doing in New Jersey.
New Jersey Limited Liability Company Costs
New Jersey LLC Formation Fee
Again, to form an LLC in New Jersey requires a one-time payment of $125.
New Jersey LLC Annual Costs
New Jersey LLC Annual Report:
The required ongoing costs for a New Jersey LLC will be $75 per year for your Annual Report.
New Jersey Minimum Partner Tax (2 or more Members):
If you have a Multi-Member LLC (2 or more Members) you must also pay a minimum partner tax of $150 per Member (per year).
Additional Costs for your Business Entity
If you hire a Registered Agent, that’ll cost about $125 per year.
Depending on what your LLC does, you may need state or local business licenses. Some businesses need occupation-specific or professional licenses. And some municipalities (towns and counties) require business permits. The costs for these all vary depending on where your LLC operates and what it does. Check out our NJ LLC Business License page for more information.
And of course there’s taxes, which include the amount you pay in federal taxes and state taxes (like sales tax). It also includes how much you pay your accountant for their services preparing your business’s taxes. This will vary widely and we’re not able to provide an estimate. You’ll need to speak to a few accountants regarding your business.
New Jersey Division of Taxation: Tax Forms
New Jersey Division of Revenue: Recording Fee Schedules
New Jersey Division of Revenue: Business Formation FAQs
New Jersey Division of Revenue: Annual Report Fee Updates