Waives business formation and registration fees for establishment of businesses owned by veterans.

2026-2027 Regular Session Introduced by Wayne DeAngelo and 2 co-sponsors

The bill waives all initial business formation and registration fees for veteran-owned for-profit and domestic non-profit entities in New Jersey, upon proof of veteran status.

Introduced, Referred to Assembly Military and Veterans' Affairs Committee

Summary of Assembly Bill A-941 (Session 222, New Jersey)

Purpose and intent

The bill aims to encourage veteran entrepreneurship by waiving the current state business formation and registration fees for the establishment of veteran-owned businesses and veteran-owned domestic non-profit organizations.

It aligns with similar measures adopted by other states (notably Pennsylvania in 2016) to ease the financial barriers veterans face when transitioning to civilian life and starting a business.

Key provisions and changes

Definitions:

“Veteran” = any person honorably discharged after serving in any branch of the U.S. Armed Forces, including members of a reserve component, with at least 90 days of service.

Fee waivers:

The Department of the Treasury must waive all business formation and registration fees for:
For-profit businesses
Domestic non-profit organizations
Exemption applies to the initial establishment and filing of formation/registration documents.

Proof of veteran status:

Veterans must submit documentation to receive the exemption:
A copy of the DD-214 form, or
A Certificate of Release or Discharge from Active Duty, together with the formation/registration forms.
If forms are submitted separately, proof of veteran status must accompany each submission.

Administrative implementation:

The State Treasurer is required to adopt regulations under the Administrative Procedure Act to implement the bill.

Effective date:

The act would take effect on the first day of the third month after enactment.
The Treasurer may authorize anticipatory administrative action prior to the effective date to facilitate implementation.

Exclusions:

The bill does not change renewal fees or any other ongoing fees; it only waives initial formation and registration fees.

Who is affected

Eligible recipients: Veterans (as defined by the bill) who are establishing a for-profit business or a domestic non-profit organization in New Jersey.

Indirect effects: Potentially reduces startup costs for veteran-owned ventures, which may influence business formation rates among veterans and ease early-stage financial pressures.

Procedural and timeline aspects

Status: Introduced and referred to the Assembly Military and Veterans' Affairs Committee (January 13, 2026).

Implementation: Requires Treasury rulemaking under the Administrative Procedure Act; effective date is the first day of the third month after enactment, with possible pre-enactment administrative action to smooth implementation.

Notes and context

The bill specifies that it does not alter renewal or ongoing fees, focusing solely on initial formation and registration costs.

It provides a straightforward, verifiable method for proof of veteran status to prevent improper use of the exemption.

This summary covers the bill’s core purpose, mechanisms, affected parties, and key timing and implementation details. If you’d like, I can add a comparison to current New Jersey fee structures or provide a one-page briefing for stakeholders.