This bill aims to reduce business formation fees for various corporate filings in New Jersey. Key changes include a reduction in the filing fee for the original certificate of incorporation from $125 to $100, and for foreign corporations, the fee for an application for a certificate of authority is also reduced from $125 to $100. Additionally, the bill lowers the filing fee for a certificate of formation for limited liability companies from $125 to $100. Other fees, such as those for filing a certificate of amendment or dissolution, remain unchanged at $75.

The bill is projected to decrease state revenues by approximately $4.1 million, as indicated by the Department of the Treasury. The proposed changes are included in the Governor's Fiscal Year 2027 budget recommendations and are set to take effect on July 1, 2026. Overall, the legislation seeks to make it more affordable for businesses to establish themselves in New Jersey, thereby potentially encouraging economic growth.

Statutes affected:
Introduced: 22A:4-1, 42:2A-68, 42:2C-93