If you want to get a New Jersey dealer’s license. You have to obtain dealer surety bond insurance from the insurance agency. You are going to need to get a federal tax ID number and a New Jersey sales tax license. Here, we are going to tell you how to get a dealer license in New Jersey.
Online Application for Dealer License in New Jersey
New Jersey Manufacturers Council on Corporate Responsibility, Digital Innovation & Research (NJMCDIRECT) is a membership-based organization whose charter is to create and foster an innovation ecosystem by providing resources, education, and networking opportunities for manufacturers. New Jersey manufacturers face unique challenges when it comes to competing in the 21st-century digital economy. The industrial sectors that have long been dominant, medical devices, electronics, plastics, food, and beverage – were built on a manufacturing foundation centered around analog technology.
If you are interested in obtaining your dealer’s license for the first time, then this content is very useful for you. We can also use the NJMCDirect online portal. Consider the following steps to get a dealer license in New Jersey:
Step 1: Dealer Surety Bond and Insurance
For a dealer’s license in NJ, you need to have a dealer surety bond and dealer insurance. This step will determine all the costs that are important to get your license. Your dealer surety bond depends on your credit score and your dealer insurance depends on your driving record. The state of New Jersey has one of the lowest dealer surety bond prices in the country.
You only need a ten-thousand-dollar dealer surety bond. You also need to have dealer insurance, which has hundred thousand dollars to fifty thousand dollars for bodily injury and twenty-five thousand dollars for property damage.
So, you will be able to get that dealer insurance and dealer surety bond through one insurance company.
Step 2: Federal Tax ID Number and New Jersey Sales Tax Certificate
To get a New Jersey dealer’s license, you have to get a federal tax id number and a New Jersey sales tax certificate. It is important to get a federal tax id number and a New Jersey sales tax certificate before applying for a dealer license.
Firstly, you have to get your federal tax id number to get your sales tax certificate. These documents are necessary for your dealer’s license.
Step 3: Fingerprints
New Jersey state requires a higher level of ethical standards for the dealers than the average person. You must also have your fingerprints taken before you are granted a dealer license. Because, when you are getting an NJ dealer license, you have to handle very large businesses. Most of the vehicles you are going to sell are worth of thousand dollars. So, this is a very big responsibility to handle all these transactions.
The State of New Jersey checks whether any criminal record is present in your data or not. After that, they will approve your dealer license.
Step 4: Building & Lot
To have a New Jersey dealers license, you must have a building that you are going to have your dealers license that okay, so your building must be permanently enclosed it’s, got to be owned or leased by you, and it has to be devoted mainly to the operation of your dealership.
You know the New Jersey dealers shall conduct business at the building at the same property as the display law. So, your display lot does have to be the same address as your dealership building from here on out. Here your sales activity takes place. You have to do your sales activity at your location, which is described in the license.
Step 5: Register Your New Business With the New Jersey Secretary of State’s Office
The New Jersey Secretary of State is not only the state of NJ’s leading election authority. They keep all records of every business operating. They also want a record of this dealership that you are going to be opening.
That’s why, before applying for a dealer license. If you want to register your business with the Secretary of State, you can call on 609 292.
Step 6: Fill up and Submit the NJ Dealer License Application Form
You can download the NJ dealer application form online. You need to fill in all the required details correctly, otherwise the state of New Jersey going to send this application back. First, Go to Google and search Dealer License Application. Then the list appears, click on the top link and download the application form.
At the very top of that application, You want to make sure that you are leaving all this information blank, so that is for the state. They are going to issue your new license number and things like that. But you are going to put your business entity name here and if you are a corporation or a partnership or a sole proprietor, you will need to select that on the application.
If you submit a false application to the state. You can be charged with a misdemeanor, so you need to make sure your dealer license application is true and correct.
Also check: How to Restore Expired/Suspended License Online in NJ
How to Send Documents to New Jersey Motor Vehicle Commission
You have to gather all the information and pack it into a great big envelope put a couple of three stamps on there and you have to mail that to Motor Vehicle Commission at the business licensing Services Bureau.
New Jersey Motor Vehicle Commission
Business Licensing Services Bureau
P.O. Bo 170
Phone Number: 08666-0170 or 609-292-6500 et. 5014
Official Website: www.njmvc.gov
The above article is a detailed guide to getting a dealer license in New Jersey. We hope our article will be helpful for you. If you have any queries, let us know through the comment. We will respond to you as soon as possible…