Renewing Your LLC in NJ: What You Need to Know

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How do I renew my LLC in NJ?
To reinstate your New Jersey LLC, you’ll need to submit the following to the Division of Revenue and Enterprise Services: a completed reinstatement application. all delinquent annual reports and fees. a reinstatement fee of $75. an amendment to change your LLC’s name or registered agent (if needed)
Read more on www.northwestregisteredagent.com

You are undoubtedly aware of the advantages of registering your company as a Limited Liability Company (LLC) if you own a business in New Jersey. It offers simplicity of management and tax flexibility in addition to personal responsibility protection. A registered LLC is only the first step, though. Additionally, to keep your NJ LLC active, it must be renewed.

The cost of renewing your LLC in New Jersey.

In New Jersey, renewing your LLC is a simple and affordable process. The annual report filing fee is $50 as of 2021. In addition, there is a $25 late fee if your annual report is not submitted by the deadline.

Do LLCs expire in New Jersey?

In New Jersey, an LLC does not expire. However, it’s crucial to maintain the legitimacy of your LLC by submitting an annual report and covering any connected costs. If you don’t, you risk fines, losing your liability protection, and possibly having your LLC dissolved.

In New Jersey, is there a yearly cost for an LLC?

Yes, an LLC in New Jersey is subject to an annual charge. The annual report costs $50 and is submitted at the end of the calendar year. There is a $25 late fee if your annual report is not submitted by the deadline.

What occurs if a NJ annual report is not filed in light of this?

There are a number of repercussions if your yearly report is not submitted to NJ. You will first be charged a $25 late fee. Your LLC will be administratively disbanded if you don’t submit your annual report for two years in a row. As a result, you will no longer have liability protection from your LLC and it will no longer be in good standing with the state. Additionally, anyone else may now use the name of your company.

In conclusion, preserving your company’s good standing with the state of New Jersey requires that you renew your LLC there. You can make sure your company maintains compliance and continues to benefit from being an LLC by filing your annual report and paying the required cost. It is always recommended to seek advice from an experienced attorney or accountant if you have any queries or concerns regarding renewing your LLC in New Jersey.

FAQ
Do I have to renew my LLC?

Yes, in order to maintain your company legally operational as an LLC owner in New Jersey, you must renew your LLC each year. If you don’t, you risk fines and potentially the termination of your LLC.