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You may also need to register your business with your city, which can come with its own requirements and fees. You can do the process yourself, or hire a company to help you prepare and file the paperwork. However, forming an LLC isnt a requirement if you want to run a business.
Unlike C corps, S corps do not pay federal income tax at the corporate level. Instead, profits and losses pass through to the shareholders individual tax returns. Many businesses find this strategy creates tax savings.
A Limited Liability Company (LLC) is a hybrid between a corporation and a partnership. Business owners in an LLC are not responsible for the debt of the company. In other words, they have limited liability. However, unlike a corporation, the business does not file separate taxes.
To start a corporation in New Jersey, you need to appoint a registered agent, choose a name for your business, and file a Public Records Filing with the New Jersey Division of Revenue. You can file the document online, by mail or by fax. The Public Records Filing costs $125 to file (plus a payment processing fee).
To determine the business registration status: Goto: . Enter the BUSINESS NAME and click SEARCH.
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Start a corporation with one person The benefit to a single-member corporation is that you avail yourself of all the benefits like protection from liability without the complexity of a multi-owner corporate structure.

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