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 people 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”. This form can be found on the Internal Revenue Service website, as well as instructions on how to complete it at https://www.irs.gov/pub/irs pdf/fss4.pdf.
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. This is all done online at https://www.njportal.com/DOR/BusinessRegistration/. After completing this 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, assuming you’re going to have employees in the state of New Jersey, you then must obtain workers compensation insurance. Verification of obtaining workers compensation insurance is required when you file your annual report with the state of New Jersey. In addition, failure to obtain workers compensation insurance can expose you and your business to a large amount of liability in the event a worker is hurt on the job. I would therefore recommend you obtain workers compensation insurance prior to hiring employees and commencing business. 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 me at 732-792-3397 or via email at firstname.lastname@example.org.