Acting New Jersey Gov. Nicholas Scutari signed Senate Bill 1395/Assembly Bill 4955 into law Oct. 8, allowing certain limited liability companies (LLCs) to terminate alternate business names before the end of their five-year registration periods.
Previously, LLCs in New Jersey registered alternate business names for five-year periods. Unlike corporations, LLCs did not have the same statutory ability to terminate those registrations early.
Under the new law, eligible LLCs can:
- File a termination certificate after they stop using an alternate name, before its five-year registration period expires
- Submit a certificate identifying the LLC and its registered alternate name, along with a statement confirming that the business has stopped using the name
- Provide additional identifying information if required by the state treasurer
The legislation prohibits LLCs operating as residential landlords from terminating alternate-name registrations early. It also updates statutory references to reflect responsibilities transferred to the state treasurer.
For eligible businesses, the change provides greater flexibility in managing registered business names.
For example, an LLC might discontinue a brand, consolidate operations under a different name or stop offering a particular service. Previously, its alternate-name registration would remain in place through the five-year term. Under the new law, the business can formally terminate that registration once it stops using the name.
The legislation is an administrative change and does not dissolve an LLC, terminate its underlying business registration or establish new rights to an alternate name.
The law establishes a $50 fee for filing an alternate-name termination certificate, the same amount charged for registering or renewing an alternate name. The legislation also retains provisions for expedited filing services, including potential additional charges of up to $50 for same-day service and $25 for 24-hour service.
The law took effect immediately upon signing Thursday.
The post NJ LLCs can end alternate business names early under new law appeared first on NJBIZ.
