Getting an Employer Identification Number (EIN) from the IRS is one of the first steps you should do if you’re starting a small business in New Jersey. An EIN is a distinct nine-digit number that serves as your company’s tax identification number. Here’s how you apply for an EIN for your NJ LLC.
To obtain an EIN, you must first decide how your LLC will be structured. NJ permits the formation of single-member or multiple-member LLCs. A single-member LLC is one in which there is only one owner. Your LLC is a multi-member LLC if there are two or more owners.
Fill out Form SS-4 in Step 2
Once you have decided on the organizational structure of your LLC, you can submit Form SS-4 to request an EIN. Form SS-4 can be completed online, by mail, or by fax. You can acquire your EIN right away if you complete Form SS-4 online. It can take up to four weeks to get your EIN if you submit Form SS-4 by mail or fax.
– The name and address of your LLC
– The number of members your LLC has
– The responsible party’s name and address
– the kind of business your LLC does
– the justification for your application for an EIN
Use your EIN for tax purposes in step four. Once you’ve obtained your EIN, you can use it to file taxes. Your EIN is required to create a business bank account, file federal and state tax returns, and apply for any required licenses and permits. What Does New Jersey Define as a Small Business?
Can I Use My LLC for More Than One Business in This Case?
You can utilize your LLC for many businesses, yes. A series LLC is what this is. You can create different “series” within your LLC using a series LLC, each with its own assets, liabilities, and members. This gives you more liability protection and enables you to manage many enterprises under one roof. How Do I Launch a Small Business in New Jersey? You must do the following actions in order to launch a small business in New Jersey: Open a business bank account, choose a business structure (sole proprietorship, partnership, LLC, corporation), register with the NJ Division of Revenue, obtain any necessary licenses and permits, file federal, state, and local taxes, and, if necessary, purchase insurance. 7. Start running your business
LegalZoom is legitimate, right? LegalZoom is a trustworthy resource for launching a small business. Business formation, registered agent services, and the creation of legal documents are just a few of the services provided by LegalZoom. It’s crucial to remember that LegalZoom is not a law firm and cannot offer legal counsel. A qualified lawyer should be consulted if you require legal counsel.