New Jersey Assignment of Business License as Security for a Loan

State:
Multi-State
Control #:
US-01467BG
Format:
Word; 
Rich Text
Instant download

Description

A license authorizes the holder to do something that he or she would not be entitled to do without the license. Licensing may be directed toward revenue raising purposes, or toward regulation of the licensed activity, or both. Statutes frequently require that a person obtain a license before practicing certain professions such as law or medicine, or before carrying on a particular business such as that of a real estate broker or stock broker. If the license is required to protect the public from unqualified persons, an assignment of that license to secure a loan would probably not be enforceable.

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  • Preview Assignment of Business License as Security for a Loan
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FAQ

Every vendor, whether a person or entity, doing business in New Jersey must register with New Jersey at least 15 days before engaging in business activity. To register, file a Business Registration Application (Form NJ-REG) online with the Division of Revenue and Enterprise Services.

While New Jersey does not require a general business license, it has over 693 industry-specific licenses and permits. Some of the licenses issued by New Jersey are: Sales and use tax certificate: The Department of Taxation authorizes businesses to collect and remit sales tax for transactions.

Note: The cost for forming a New Jersey LLC online and by mail are the same; they are both $125. Once the state approves your Public Records Filing, the document becomes known as your Certificate of Formation. The terms ?Public Records Filing? and ?Certificate of Formation? are often used interchangeably.

While New Jersey does not require a general business license, it has over 693 industry-specific licenses and permits. Some of the licenses issued by New Jersey are: Sales and use tax certificate: The Department of Taxation authorizes businesses to collect and remit sales tax for transactions.

New Jersey Office of the Attorney General A nonrefundable application filing fee of $150.00, in the form of a check or money order made out to the State of New Jersey, must be submitted with this application.

New Jersey LLC Processing Times Normal LLC processing time:Expedited LLC:New Jersey LLC by mail:5-7 business days (plus mail time)Not availableNew Jersey LLC online:1 business dayNot available

A Mercantile License is required by Borough Code 4-9 as follows: No person shall either directly or indirectly conduct any business as defined in this subsection unless he has obtained a mercantile license.

New Jersey LLC Formation Filing Fee: $125 You can submit the filing in person, through the mail or by fax, or you can do it online through New Jersey's Online Business Formation portal.

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New Jersey Assignment of Business License as Security for a Loan