Registering your business as a foreign corporation in New Jersey may seem scary, but with help from OLEN it can be easy to legally start doing business with new customers in New Jersey.
A foreign corporation filing is required when a corporation, LLC, or other business entity is formed in one state but wants to do business in another state. In this case, if your business was formed outside of New Jersey but you want to operate within the state, you'll need to file as a foreign corporation. If you want to start a business in New Jersey but don't live there, you need someone who lives there to be your official contact person or a registered agent. Filing as a foreign corporation in New Jersey is required by law. Failure to do so can result in penalties, fines, and even the inability to bring lawsuits in New Jersey courts. Moreover, many banks and other financial institutions require proof of foreign corporation filing before they'll open a business bank account or provide financing.
To file as a foreign corporation in New Jersey, you'll need to submit a Certificate of Authority application to the New Jersey Department of the Treasury, Division of Revenue and Enterprise Services. This application must include:
• A distinguishable and available corporate name
• The state or country where your business was originally formed
• The name and address of your registered agent in New Jersey
• A certificate of good standing from your home state or country
• The required filing fee
The processing time for foreign corporation filings in New Jersey typically takes around 1-2 weeks. However, this timeframe can vary depending on the workload of the state. Once your application is approved, you'll receive a Certificate of Authority from the state. This certificate serves as proof that your business is authorized to operate in New Jersey.
You'll also need to obtain any necessary business licenses and permits, and register for taxes with the New Jersey Division of Taxation. Finally, don't forget to get an EIN (Employer Identification Number) from the IRS in order to open a business bank account and file taxes.
If you have any further questions or need assistance with the New Jersey foreign corporation filing process, don't hesitate to reach out to us at 855-653-6462.
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