Selling through a broker in New Jersey: at a glance
New Jersey rules that affect a business sale
| Topic | What the rule says | Source |
|---|---|---|
| Who may broker the sale | New Jersey requires a real estate license to engage in real estate brokerage (N.J.S.A. 45:15-1). Whether a pure business sale with no real estate or lease falls under it is not something we could confirm from the statute alone - ask counsel, especially if a lease assignment is part of the deal. | |
| State income tax on the gain | New Jersey's top rate is 10.75% on income over $1 million (Tax Foundation). | Tax Foundation - 2026 State Individual Income Tax Rates and Brackets |
| Bulk sale / successor liability | The buyer must send Form C-9600 (Notification of Sale, Transfer, or Assignment in Bulk) and a copy of the contract to the Division of Taxation at least 10 business days before closing. The Division then tells the buyer whether to escrow part of the proceeds for the seller's tax liabilities and issues a clearance letter once they are satisfied. | NJ Division of Taxation - Bulk sale notification FAQ, NJ Division of Taxation - Reporting a bulk sale |
| Non-compete in a sale | We did not find a New Jersey statute specific to sale-of-business non-competes; courts decide reasonableness case by case. Have counsel draft it. | Case law - confirm with counsel |
What business brokers charge
Main Street business brokers usually charge a success fee - a percentage of the sale price paid at closing - with a minimum fee; lower-middle-market M&A advisers often use tiered percentages and may charge an upfront retainer credited against the success fee. Few brokers publish their rates. Two that do: Empire Flippers (online businesses) charges 15% of the price up to $700,000, then 8% up to $5M and 2.5% above; Flippa charges a 10% success fee plus a listing fee. Use published schedules as a benchmark when you negotiate, and compare total cost if the deal does not close. See broker vs DIY for the fee math and our broker reviews.
How to vet a business broker in New Jersey
- Check the license
There is no business-broker license to check in New Jersey, so ask which licenses and credentials they hold and verify any real estate license if a lease or property is involved.
- Ask for closed deals like yours
How many businesses in your industry and size range did they close in the last two years, and at what share of asking price?
- Get every fee in writing
Success-fee percentage, minimum fee, any upfront, valuation or marketing fee, and whether buyers you bring trigger the fee.
- Limit exclusivity and the tail
Listing term (6-12 months is common) and the tail period after it ends during which a sale still owes a fee.
- Know who does the work
The person who pitches you should be the person who runs your deal.
- Know your number first
Run the valuation calculator so you can judge whether a broker’s suggested price is a listing tactic.
Selling a specific kind of business
Brokers and marketplaces you will run into
See what you would keep after New Jersey tax
Asset vs stock structure, price allocation and state tax.
Want help finding a vetted business broker in New Jersey?
Tell us about your business and what you need. We are building a list of vetted brokers and M&A advisers in New Jersey and will follow up personally with next steps. No obligation.
Frequently asked questions
Do business brokers need a license in New Jersey?
New Jersey requires a real estate license to engage in real estate brokerage (N.J.S.A. 45:15-1). Whether a pure business sale with no real estate or lease falls under it is not something we could confirm from the statute alone - ask counsel, especially if a lease assignment is part of the deal.
How much tax will I pay on the sale of my business in New Jersey?
New Jersey’s top rate is 10.75% on income over $1 million (Tax Foundation). Federal tax applies on top; model both with the after-tax proceeds calculator.
How much do business brokers charge?
Most charge a success fee as a percentage of the price with a minimum fee; few publish rates. Published examples: Empire Flippers 15% up to $700,000 (tiered down above that) and Flippa 10% plus a listing fee.
Can I sell my business without a broker in New Jersey?
Yes. Owners can sell their own business; licensing rules apply to people who broker a sale for others. You will still want a transaction attorney and CPA. See broker vs DIY.
Sources
- N.J.S.A. 45:15-1 - License required (accessed 2026-09-23)
- Tax Foundation - 2026 State Individual Income Tax Rates and Brackets (accessed 2026-09-23)
- NJ Division of Taxation - Bulk sale notification FAQ (accessed 2026-09-23)
- NJ Division of Taxation - Reporting a bulk sale (accessed 2026-09-23)
- Empire Flippers - Sell your online business (fees and requirements) (accessed 2026-09-23)
- Flippa - Pricing (accessed 2026-09-23)