Business Law in New Jersey

New Jersey charges $125 for LLC formation and $75 for annual reports. Attorney fees for business formation range from $1,500-$3,500. New Jersey has a corporate business tax with rates from 6.5% to 11.5% (for business income over $1 million), plus a 2.5% surtax for businesses with $1M+ in allocated income. Despite higher taxes, New Jersey's location between New York and Philadelphia, excellent transportation infrastructure, and highly educated workforce attract substantial business investment. The state's pharmaceutical and biotech industries are particularly strong, creating specialized regulatory compliance needs. New Jersey's wage theft law (one of the strongest in the nation) imposes treble damages and potential criminal penalties for violations. Non-compete agreements are generally enforceable but subject to strict reasonableness review. The state requires specific business registrations with the Division of Revenue and Division of Consumer Affairs depending on the industry.