Why form a New Jersey LLC?
Most commonly the biggest reason for starting a Limited Liability Company in New Jersey is for the liability protection that a LLC affords to an individual. Unlike the sole proprietorship, there is no liability protection and your personal as well as business assets are vulnerable to any litigation. When you form the LLC in New Jersey, you are creating an entity separate from that of the owner and shareholders. Therefore any personal are not vulnerable to any litigation. In an age where litigation is very common, setting up a LLC may be a wise decision if your company is to grow.
The information needed to start a New Jersey LLC is as follows: The name of the company, the names and addresses of all the members, the business address, the name and address of the registered agent. The registered agent is an individual who will be the contact person for the Secretary of State for any legal documents that the Secretary of State may send in the case of any litigation.
Tips on naming your New Jersey LLC
Limited Liability Companies in New Jersey may use either LLC or Limited Liability Company as the end of the company name. You may not use any restricted words without consent from the proper state agency that controls the restricted word. The name of the LLC must be distinguishable upon the records of other LLCs or Corporations already on file with the Secretary of State. In determining name availability, the Secretary of State will ignore words such as “the”, “and”, “a” etc. Typically the Secretary of State will also ignore special characters and spaces. There are a handful of restricted words such as Little League, Olympic, Olympia, Banking, Trust, Insurance, Realtor, and Cemetery that need prior approval before its use.
What is the result of a completed order?
When you place an order with Incorporate Fast, you will be assured that the filing of your entity will be done correctly and done in a timely matter. When your order is submitted to the state, they typically take approximately about a week for approval. Then upon approval, you will receive the approved certified documents from the Secretary of State. You will also receive other products that you may have ordered as well.
What is required to maintain your LLC?
When your New Jersey LLC is approved by the Secretary of State, there are certain procedures that you must follow in order to maintain good standing with the Secretary of State. Each year, every LLC must submit an annual report. The annual report simply notifies the Secretary of State of any updates the LLC has undergone in the past year. Information such as address, members, registered agents. All this information can be changed with this annual report. This annual report has a filing fee associated with it.