An entity ID is a 10-digit number used to identify the company's business records. Your corporate records are public and are kept separate from your confidential tax records. MVC issues Entity Identification Numbers (EIN) to businesses located in New Jersey. Your company will receive a 15-digit EIN that will be requested for all transactions.
The EIN was formerly known as the Corporate Code (Corpcode). A lawyer who understands business law will guide you through the entire New Jersey incorporation process, from selecting a business name to filing your Certificate of Incorporation with the Treasury Department and filing annual reports. All legal entities must file annual reports, and corporations are liable for corporate business tax, from the date of formation to the date of dissolution of the corporation. For public procurement, as proof of valid business registration with the New Jersey Division of Revenue.
Companies operating out of state must file Form NJ-REG, if they do not have a state tax nexus, to obtain a business registration certificate. Only those companies that file this form are vulnerable to a nexus review by the Tax Division. As far as the company name is concerned, you are not required to reserve a business name; however, you will ensure that the company name remains available when you apply for incorporation. New Jersey's requirements for business permits and licenses vary between local, county, and state governments.
Some of the largest companies, such as Johnson %26 Johnson, Honeywell International and Prudential Financial, started and continue to operate in New Jersey. Authorization and training documents must be submitted if your company is any form of legal entity, such as a limited partnership, corporation, or limited liability company. In tax law, “nexus” is a term that defines the degree to which a company has a presence in a state or locality. These companies, such as seasonal operations and flea markets, are also required to file the Filing and Public Entity Registration.
There are times when special consideration must be taken into account when it comes to the formation and registration of a company. Proof of registration is not required when nonprofits are contracting with public agencies in the state of New Jersey. While there is no need to submit an operating agreement, one should be created as it will help manage the business. Non-domestic companies can circumvent the stipulation of the original name by filing a DBA or the name 'Doing Business As'.
If the filings are not filed together, the NJ-REG must be filed within 60 days of the new business entity filing.