As part of the ongoing requirements of running a limited liability company in New Jersey requires businesses registered with the Department of State to file an annual report. The annual report ensures that the state has the most up-to-date information about your business. The state imposes penalties if a business files its annual report late and could dissolve the business if it doesn’t file an annual report at all. The annual report fee is one of the costs of doing business in New Jersey.
A New Jersey LLC annual report notifies the New Jersey Department of State if you have had any changes to your business in the past year. You might need to update members, the registered agent, and other information.
The filing fee for a New Jersey annual report is $75.
When filing an annual report, you will need several pieces of information, including:
New Jersey requires all businesses to file a yearly (annual) report to update the records at the New Jersey Department of State. The state will assess you or your business with penalties and fines if you file late or do not file at all.
New Jersey requires businesses to file the annual report on or before the last day of the month you created the business. For example, if you created the business in April 2009, your annual report is due every April, on or before April 30.
It is your responsibility to know when the annual report is due. Thus, if you do not receive a notification, the state will still take action against the business.
In New Jersey, you can sign up to receive messages to remind you when to file your annual report. You can choose text or email. An E-government vendor, NIC, provides this service. However, you are ultimately responsible for filing your annual report on time should you not receive the e-alert.
The easiest way to file your annual report for any state is to file it online. You do not have to worry about mail delays. You’ll also know instantly if your credit card was accepted.
New Jersey requires you to file online. To file your annual report online, navigate to the New Jersey Department of the Treasury’s annual report page.
Enter your NJ business entity identification number, the type of business (LLC), and the formation date. All of these pieces of information are required. You will also need a way to pay the filing fee of $75 plus the agency fee of $3.
You cannot file an annual report by mail in New Jersey.
If you are worried about filing on time, just do not have the time, or wish someone else would file the report, Tailor Brands can file the annual report for you.
In addition to setting up a limited liability company and providing a registered agent, Tailor Brands will help you manage the business, including filing the annual report.
If a business does not file an annual report for 2 years in a row, the Division of Taxation could void your charter or your authority to do business in New Jersey. If the state voids or revokes a business, you have 2 years to reinstate it.
A limited liability company dissolved by the New Jersey Division of Taxation must file all of the outstanding annual reports and pay the following:
Once 2 years have passed without filing an annual report:
One of the penalties you must face is obtaining a tax clearance certificate to reinstate a limited liability company that has been dissolved for more than 2 years. Otherwise, the tax clearance is not required, and you can reinstate your business through the Division of Taxation’s online portal.
If you need a tax clearance, the system will create an application with instructions for obtaining the tax clearance certificate. The Division of Taxation will notify you once it issues the tax clearance certificate.
It will not issue a certificate if you owe outstanding debts and liabilities. You must pay those off before you can reinstate your business. Once you show that you paid the debts and liabilities, the Division of Taxation issues the tax certificate, and the Division of Revenue and Enterprise Services (DORES) reinstates your business.
Additionally, you might not be able to conduct business with banks, prospective clients or licensing agencies if the state administratively dissolved your business. When you file an annual report on time every year, you avoid the costly consequences of allowing the report to lapse.
If the Division of Taxation dissolves your business, you can reinstate it via the DORES online reinstatement service as long as the business has not been dissolved for over 2 years. To reinstate your business:
In order to stay in good standing with New Jersey and protect your business and personal assets, you should file your annual reports on time.
Take advantage of using New Jersey’s third-party notification system so that you do not forget to file the annual report. The Division of Taxation will not remind you to file.
New Jersey will not accept any excuses for not filing, especially the excuse that you did not receive a notification. It is your responsibility to remember the date to file the annual report. By filing on time, you avoid late fees and the possibility of not being able to do business or have accounts closed.
This portion of our website is for informational purposes only. Tailor Brands is not a law firm, and none of the information on this website constitutes or is intended to convey legal advice. All statements, opinions, recommendations, and conclusions are solely the expression of the author and provided on an as-is basis. Accordingly, Tailor Brands is not responsible for the information and/or its accuracy or completeness.