TRENTON — It now costs less to start a business in New Jersey after Gov. Mikie Sherrill signed a bipartisan bill cutting business formation and filing fees by up to $25 across several business types.
The legislation, A-5325/S-4534, took effect July 1 and was one of more than 100 bills the Legislature passed in its most recent voting session, though it drew far less attention than the $60.7 billion state budget signed the same day.
Under the new law, the fee to file a Certificate of Incorporation for a corporation drops from $125 to $100. Nonprofit corporations will pay $50 instead of $75 for their original certificate, and limited partnerships and limited liability companies will see formation fees reduced from $125 to $100 as well. Annual report fees are now set at $75 for most business types and $30 for nonprofits. Other filing fees, including those for amendments, mergers, and dissolutions, have also been standardized or reduced.
The bill was sponsored by Assemblyman Roy Freiman (D-16), Senator John Burzichelli (D-3), and Senator Carmen Amato (R-9).
“New Jersey should be encouraging entrepreneurs to invest and create jobs, not making it more expensive to get started,” Amato said. “This law removes an unnecessary cost for businesses and is a step toward creating a more welcoming environment for employers and job creators.”
The bill passed with broad bipartisan support, clearing the Senate 40-0 and the Assembly 78-0 with one abstention on June 30. Sherrill signed it into law a few hours later.
The state Department of the Treasury estimated the fee reductions will reduce state revenues by $4.1 million, a figure reflected in the governor’s Fiscal Year 2027 budget. Supporters of the bill say the long-term economic benefit of increased business activity is expected to outweigh the short-term revenue loss.
