New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
We are a consulting firm establishing a Colorado LLC where one partner resides and the other resides in NJ. We plan to have business addresses in both states. Are we required to obtain a license to do business in NJ and any other state?
Bonnie,
When you have a nexus such as offices in multiple states, you would need to have the business registered in each of those states, respectively. In your situation, your Colorado LLC would have to file as a foreign entity in New Jersey.
You wouldn’t need to obtain a new EIN for the company, however, any licenses or permits, such as a state sales/use tax or business license if you have or need one would need to be applied separately with every state the business is registered in.
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