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Discussion in 'Starting a Lawn Care Business' started by tken, Mar 31, 2008.
How do I go about registering my company in N.J.?
WOW. Ready for this. First, learn from others experience like you are doing. Do you have a name? If so proceed. I tried to do it my self, but NJ is the pits with paperwork. GET A LAWYER!!! Costs about $500. Also you will need an accountant. Get the two of them together. A business like this you need an accountant and a lawyer. A registered name is only a name. The accountant will need to set up the papers with the state and the IRS to get you started paying taxes. DO NOT TRY THIS ALONE, unless jail is appealing. Stick to what you do best, lawns. Let the book guys do thier end. It will cost you about $1500 to register a biz and have the tax paper work put into order. The good news is that the first year is the most expensive IF you stay with your accountant. Once the biz is set up, it will be easier the next time around when tax season comes. Where about in NJ are ya? Maybe my accountant can help ya. Once you have the biz registered and tax paper work in order, you need to go to DMV and get CORP CODE paper work, Print the papers online, fill out, return to DMV. They take a week to clear, but you will get a CORP CODE assigned to your biz. This # is what your need to register your trucks and trailers commercially. DO NOT MESS WITH THE COPS, they are on a crack down. If you are not properly registered, HUGE FINES, over $1000. Good luck and hopefully I didn'tscary ya too much. By the way, this whole process takes about 3 months.
Or you can do it all yourself for around $100. Just keep track of all your stuff and you'll be fine.
Hey, I'm all for doing things myself, but I'm not the smartest with paper work. I just don't want to see the guy get into trouble. Mistakes with tax forms and registration papers can cost big bucks from lawyers to fix. My buddy made mistakes and had to hire a lawyer to clear his name at the tune of $3000. I personally found it easier to hire someone to do the paper work and go cut lawns myself. Our new friend may find it as an easier way, also considering how late in the season it is to be starting. Good Luck, and don't be afraid to ask further questions.
Thanks CrystalCreek..I`m wondering if I need to give up my first born too.All i want to do is register so I can open up a business acct. and get insurance...so I can be on the up and up.I thought all I had to due was sign a few papers and give n.j. some money ...but i guess I was wrong...please anyone else with any other advice would be greatly appreciated.
Thanks Brianlooft.please tell me more!!!!!!
I registered as Sole Proprietor. Alot easier than Corp. Register your business name at County Clerk office. Around $50. Register business with State of NJ and get Sales and Use Certificate to collect and pay taxes. Free. Town you live in may require business license. Check at municipal building. IRS should automatically send you papers for fed taxes.
Keep track of everything you spend to get your biz together. Save all receipts and keep them organized. If you can do this, when tax time comes you will be ready to either hand all you papers to an accountant or do it yourself and you wont be stressing out for months worrying about it.
Theres also all the money you will need to spend on office supplies, equipment, insurance, inventory, advertising, fuel, etc., etc., etc.
I registered as an S-Corp. My accountant helped me set it all up.
Register at the county store, $67. Then get a business checking as a sole prioreter, excuse my spelling. You can pay your taxes using your social security number. Get insurance and you are good to start. Thats all Im doing for my first year. No need to spend 1000s of dollars to get started. Get insurance and pay taxes and you should be ok.
In looking out for my fellow New Jersyans, I would strongly caution you not to set your business up as a sole proprietorship.
The main reason is that if you have a run-in with a customer (even if you have insurance) and they are upset with you about something or you damage something, and they decide to sue you, you can and will be held PERSONALLY LIABLE for everything. They can go after your personal assets, not just your business assets. I would recommend going with an LLC or S Corp. The extra few bucks more it costs up front is well worth it for the peace of mind. Just my 2 cents...