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NJ A5978
Bill
Status
1/12/2026
Primary Sponsor
Sterley Stanley
Click for details
AI Summary
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Allows real estate salespersons and broker-salespersons to form limited liability companies or other legal entities to receive commissions and compensation from their employing or contracting broker
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Clarifies that receiving payment through an LLC or other entity does not affect the business affiliation between the salesperson/broker-salesperson and their employing or contracting broker as defined in their written agreement
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Requires the New Jersey Real Estate Commission to create a registration process for LLCs and other entities formed to receive real estate commissions
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Removes language regarding unemployment insurance employee status determinations for salespersons or broker-salespersons who form such entities
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Takes effect immediately upon enactment
Legislative Description
Clarifies current law addressing commissions paid to limited liability companies formed by real estate salespersons or broker-salespersons.
Bills and Joint Resolutions Signed by the Governor
Last Action
Approved P.L.2025, c.271.
1/12/2026