You Just Formed a Company, Now What?

You Just Formed a Company, Now What?

Speak with an experienced business lawyer in the Freehold, NJ and Hicksville, NY area to properly form your new company

You filed a certificate of formation if you’re a New Jersey Limited Liability Company, or a certificate of incorporation if you’re a Corporation. The most popular question new business owners ask me is “Now what do I do?”.
 


  • The next step in the process is to obtain your Federal Tax ID number from the Internal Revenue Service, by filling out an Internal Revenue Service form entitled “SS-4”. .
     
  • After you have obtained your Federal Tax ID number, the next step in New Jersey, is to register your business with the Department of Treasury. . After completing this registration process, you will be assigned a New Jersey tax ID number that mirrors your Federal Tax ID number with /000 added to the end of it.
     
  • Upon completing your New Jersey registration and assuming you’re going to have employees in the state of New Jersey, you then must obtain workers compensation insurance for your new employees.  Verification of obtaining workers compensation insurance is required when you file your annual report with the state of New Jersey.

  • Typically, one of the final steps to properly forming your company is to prepare an operating agreement if you’re limited liability company, or if you’re Corporation, to prepare your initial corporate paperwork.


 

This process may seem long and confusing, and for the new and inexperienced business owner, it can be. For people who are well-versed in business law and business accounting it’s a very basic task to complete. I would therefore recommend seeking the guidance of an experienced business lawyer and business accountant to assist you with this process.

If you need help with formation issues regarding your new company or corporation, feel free to call David at 732-792-3397 or via email at david@weinsteinlawyer.com.

© 2017 Law Offices of David A. Weinstein, P.C. All rights reserved. The information contained in this website is provided for informational purposes only, and should not be construed as legal advice or an offer to perform services on any subject matter