New Jersey (NJ) Certificate of Good Standing

If you’re looking to secure the legitimacy of your New Jersey entity with a certificate of good standing, you’re in the right place. This comprehensive guide will walk you through the basics of good standing, provide an overview of the certificate, and give you a step-by-step walkthrough on acquiring a certificate. 

What is a certificate of New Jersey Good Standing?

A certificate of good standing is a crucial state-issued document that verifies your business is legally authorized to operate within New Jersey. It shows that your business is fully compliant with state regulations, fees, taxes, and business filings. You only need a certificate of good standing in New Jersey if you plan to do business in the state. Commenda can help your business assess its exposure in New Jersey with our suite of compliance monitoring services.

The process for getting a certificate is straightforward: simply verify your business status on the Division of Revenue and Enterprise Services (DORES) website, request the form, pay, and wait for processing. 

What does the New Jersey Certificate of Good Standing say?

A New Jersey standing certificate confirms that your Corporation or LLC is currently meeting the state’s requirements of: 

1. Business registration and other fee payments 

2. On-time annual statement submission

3. Franchise tax payment

The certificate itself will show:

1. That your business is allowed to transact in New Jersey

2. The date your business can start transacting

3. That on the date of certification issues your business complies with state law.

Why do you need a certificate of good standing for New Jersey?

A New Jersey Standing Certificate may be necessary for the following reasons:

1. Expanding your business outside of New Jersey.

2. Securing funding or opening a business bank account in New Jersey.

3. Purchasing business insurance in New Jersey or for a business that operates in New Jersey.

4. Signing contracts with other New Jersey businesses or the state.

5. Selling or transferring part of your business in the state.

6. Renewing specific permits and licenses in the state.

This certificate is often required to verify your business's legal standing and compliance with state laws, whether you're operating within New Jersey or expanding to other states.

How can I stay compliant to get a certificate of good standing?

Here are the key steps New Jersey businesses should take to ensure they remain in good standing:

Step 1: Staying Compliance: 

1. File Annual Reports: Don't miss the deadline for filing annual reports with DORES. These reports usually need to be submitted by a specific date each year, typically the anniversary month of the business formation. Failure to file can result in penalties and potential suspension of good standing.

2. Pay Annual Fees: Annual reports are often accompanied by filing fees. Ensure timely payment to avoid late fees and potential delinquency notices.

3. File and Pay Taxes: Meeting all state tax filing and payment deadlines is critical. Penalties and interest can accrue rapidly on late filings or unpaid taxes. Consulting with a tax professional can help ensure you comply with all relevant tax obligations.

4. Maintain Accurate Records: Keeping meticulous records of your business finances, ownership structure, and any changes to the business is essential. This ensures you have the necessary documentation readily available for filing purposes or if contacted by state authorities.

5. Monitor Deadlines and Notices: Stay vigilant about deadlines for reports, fees, and taxes. DORES typically sends reminder notices; however, it's ultimately the business's responsibility to ensure compliance.

Fortunately, Commenda’s comprehensive compliance calendar helps you never to miss a deadline.

If you need assistance with compliance in New Jersey, Commenda can help: 

Schedule a free compliance consultation call →

Step 2: Apply for the New Jersey Standing Certificate online

1. Go to the business records sections of the Division of Revenue and Enterprise Services website

2. Click on “Business Entity Standing Certificate.” 

3. Enter either your business name, business ID, principal name, registered agent, or associate name. 

4. On the next page select the certificate you want and make the payment. Here's the pricing:

• $25 for normal processing of short/long forms (corporate, non-profit, & limited partnership only)

• $50 for normal processing short forms (LLCs/LLPs)

• $100 for normal processing long forms (LLCs and LLPs)

• $40 for expedited processing of short/long forms (corporate, non-profit, & limited partnership).

• $75 for expedited processing of short forms (LLCs and LLPs)

• $125 for expedited processing of long forms (LLCs and LLPs)

If you need assistance with applying for the New Jersey Standing Certificate, Commenda can help: 

Schedule a free consultation call →

Conclusion:

By following the steps outlined in this blog post,  developing a proactive approach, and seeking professional guidance when necessary, you can ensure your New Jersey business remains in good standing and positions itself for continued success.

FAQs:  Certificate of good standing for New Jersey (NJ)

How much does a New Jersey Standing Certificate cost?

All certificates are available online at the following rates:

1. $25 for short and long forms for corporate and Limited Partnership certificates

2. $50 for short-form certificates (LLCs and LLPs).

3. $100 for long-form certificates of good standing for LLCs and LLPs.

Businesses can elect to submit requests through fax, post, or courier. There is an additional $15-25 fee for expediting non-digital submissions. There is no distinct benefit to filing a physical request.

How long does it take to process the New Jersey Certificate of Good Standing? 

If you file for the certificate online, it is typically available shortly after you make your payment.

How to verify good standing status?

1. Online Search: DORES offers an online Business Entity Search tool where you can enter your business name or entity ID to check its current status.

2. Certificate of Good Standing: You can request a formal Certificate of Good Standing from DORES. This document serves as official verification of your business's good standing and may be required for certain business purposes.