How to Start a Corporation in New Jersey
To start a New Jersey corporation, you must file a Public Records Filing with the New Jersey Division of Revenue and pay a $125 filing fee. While this filing creates your business, it’s really just the first step to launching your New Jersey corporation. The complete steps to incorporating in the Garden State are as follows:
- File a Public Records Filing for a New Business Entity
- Pay the New Jersey Division of Revenue $125
- Wait to receive your filing’s approval
- Get a federal tax ID (EIN) for the corporation
- Create New Jersey corporate bylaws
- Take these documents to the bank and get a New Jersey corporate bank account
- Register with the New Jersey Division of Revenue by filling out a free Business Registration Application
Free PDF Download
New Jersey Public Records Filing free download. When you're done filling out the form, submit it to your state.
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2 Day New Jersey Corporation For $355 Total
How to File a New Jersey Public Records FilingTo form a New Jersey corporation, you file the Public Records Filing in the following steps:
What is the Cost of a New Jersey Corporation?
$125. Online filings are also subject to a credit card fee of $3.50. Need it expedited? Add $15 to have your filing processed in 8.5 hours, $50 for same day, $500 for 2 hours, or $1K for 1 hour.
Hire Northwest to form your New Jersey corporation and your total, out-the-door cost is $355. This includes state filing fees, a full year of registered agent service and all the forms you need to open a corporate bank account.
How Much Does a Corporation in New Jersey Cost Each Year?
At least $50. This is the filing fee for your mandatory New Jersey Annual Report (add $25 if you have to update any registered agent or office information in your report).Get Started
What is a New Jersey Annual Report?
Your New Jersey Annual Report is an online form your corporation is required to file each year with the Division of Revenue and Enterprise Services. In your report, you update your ownership information and confirm your contact information. If you have to update your registered agent or office information, the fee increases to $75.
Miss your filing deadline? There’s no late fee, but if you fail to file two years in a row, the state will dissolve your corporation. When you hire Northwest as your registered agent, we’ll send you reminders to file your reports. Or, for $100 plus state fees, you can hire us to file your New Jersey Annual Report on behalf of your corporation.Get Started
What are the Taxes for a New Jersey Corporation?
Instead of a traditional corporate income tax, New Jersey has a Corporate Business Tax. The following rates are based on your corporation’s entire net income (but only applied to your taxable income):
6.5%: $0 to $50,000
7.5%: $50,001 to $100,000
9.0%: over $100,000
So, if your entire net income is $101,000, you’ll then pay a 9% rate on all your taxable income. There’s a minimum tax of $500.
Have an S corp? Even though most S corp income isn’t subject to corporate rates, the state still imposes a $375 minimum tax. (Note also that a federal S election isn’t sufficient for S corp tax status in New Jersey—you’ll also have to fill out S election Form CBT-2553 with the state’s Division of Taxation.)
The state sales tax is 6.625%. Cities and counties don’t add on local sales taxes, so customers will pay the same 6.625% at the counter from Newark to Atlantic City.
Is a Registered Agent Required for a New Jersey Corporation?
Yes, you’re required to appoint and maintain a New Jersey registered agent. So who should you appoint? You could try to save a few bucks by appointing yourself or someone in your corporation—although the job is more headache than you might anticipate. This is in part because the registered address you list is public record, making it a prime target for data-sellers and spammers. Odds are, your address will end up on loads of lists and you’ll find yourself sorting through piles of junk mail. You’ll also have to be regularly available at the listed address in case a process server shows up. Missing legal notifications can end up costing much more than a registered agent fee.
A better option? Hire Northwest. We list our address in your Public Records Filing (instead of yours). We accept, scan and send notices the same day. We’re ready and waiting in the office so you can spend your time doing what you really want to do: running your business.Get Started
New Jersey Corporation Versus New Jersey LLC:
State filing fees are typically the same for both New Jersey corporations and LLCs—the state sometimes even uses the same exact forms for both entities, such as the Public Records Filing form. State taxes are pretty even-handed as well. It doesn’t matter whether your business is taxed as a partnership, S corp or C corp, you’ll have minimum state taxes to pay, thanks to the state’s Partnership Tax and Corporate Business Tax.
While costs are often similar, corporations and LLCs have different advantages when it comes to how they actually function. Corporations have a very familiar, formal structure with directors, officers, and annual meetings. This set structure can simplify managing a business with lots of people or divisions. Corporations also have stock, which can make it easier to raise capital or attract investors. LLCs are little more basic, so they tend to be simpler to operate. As a result, they’re more common for small businesses or new business owners. Leaning towards an LLC? Here’s information about starting an LLC in New Jersey.
Do I Need a Tax ID Number (EIN) for a New Jersey Corporation?
Absolutely. The IRS requires corporations to get an EIN for their federal tax filings. You can get an EIN directly from the IRS for no fee. Can’t bear to fill out yet more paperwork? Hire Northwest to get your EIN for you. Just add on EIN service during checkout when you sign up for our New Jersey incorporation services.
Does a New Jersey Corporation Need a Business License?
The state doesn’t have any sort of general business license. However, cities and counties sometimes have their own licensing requirements, most often for specific business activities. Newark, for instance, licenses over 40 different kinds of businesses, from arcades to kennels.
Does I Need to Register with the Division of Revenue?
Absolutely. You must register your New Jersey corporation with the Division of Revenue and Enterprise Services within 60 days of forming your business. To register, file form NJ-REG. Filing is free.
New Jersey Public Records Filing Requirements
Your name must include “Corporation,” “Company,” “Incorporated” or an abbreviation for one of these words, such as “Corp” or “Inc.” The state also has quite a few words you can’t use as well, including some surprising ones like “blind,” “cemetery,” “mail,” “Olympic” and “urban renewal.”
New Jersey for-profit corporations automatically have a general purpose and can skip this section. If you’d prefer, you can include a specific purpose that describes your main business activity (like “motorcycle repair”).
List the number of shares you wish to create. You must create at least one share.
Want your corporation to continue indefinitely? Skip this section. Prefer to put a self-destruct timer on your business? Enter the number of years you’d like your New Jersey corporation to exist. Tip: Most corporations skip this section.
List either an individual (such as yourself) or a business registered and in good standing with the state (such as Northwest). Tip: We recommend Northwest.
This New Jersey street address is where your agent will be available to accept legal notifications. Tip: Hire Northwest and our New Jersey address will go here.
This is your main business address. Tip: Avoid having to check and update multiple address—when you hire Northwest as your registered agent, you can use our registered office as your principal office address.
List the names and addresses of the directors on your board of directors. For-profit corporations must list at least one director.
New Jersey Incorporator
Your incorporator signs and submits your Public Records Filing. You need at least one incorporator, who is often a director or officer but doesn’t have to be anyone in your corporation. Incorporators must include their names and addresses. Tip: We’ll be your incorporator when you hire Northwest to form your New Jersey corporation.