If you’re looking to start a new business in New Hampshire, you need to consider setting up a business entity for your company. Establishing as a limited liability company (LLC) creates a personal liability barrier for you from business obligations. Forming a New Hampshire LLC is a simple process and can be accomplished in a few weeks.
We’ve put together this guide to help you set up a New Hampshire LLC. Read on to see what steps you need to take to start your company.
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Before Establishing an LLC in New Hampshire
You can make establishing an LLC easier if you do some work before you file your Certificate of Formation.
Check Name Availability
Before you do anything else, see if the name that you want to use for your company is available. Do this by conducting a business search on the New Hampshire Secretary of State website. Your new business’s name must be distinguishable from the names of existing businesses registered in New Hampshire. This is to help reduce consumer confusion when dealing with companies.
If your search identifies other companies with similar names, adjust your name to be unique and different. This may take a few searches to find a name that is in the clear, but this will prevent your filing from being rejected.
You can reserve the name you choose by filing an Application for Reservation of Name. This costs $15. Reservations are good for 120 days.
Mail the application to:
Corporation Division
NH Dept. of State
107 N. Main St., Room 204
Concord, NH 03301-4989
You may also file online for a quicker response time.
Hire a Registered Agent
A registered agent is a person or business that agrees to be the official point of contact for legal documents. Every LLC must have a registered agent. This can be a member or employee of the company or someone hired to serve as the registered agent. An individual serving as a registered agent in New Hampshire must be a state resident with a physical address in the state (the “registered office”).
Reserve Your Domain Name
Just as you want to make sure that your business name is available with the SOS, you want to check to see if the desired business name or catchphrase that you want to use is available as a domain name. You can search and purchase domain names online. Once you find a domain you want to use, pay the annual fee to buy the domain. Expect to spend anywhere from 99 cents to $49.99 per year for a domain name. You don’t need a domain name to form an LLC, but you’ll need one to build a website.
Register Your New Hampshire LLC
You can file for a New Hampshire LLC by filing the Certificate of Formation either online or by mail. There is a $100 fee to complete the form ($102 for online filing), and you will receive a file-stamped copy of your certificate within 30 days. Checks should be made payable to the “State of New Hampshire.”
Complete the two-page application. It will require you to provide the name of the LLC, the principal address of the company, the nature of the LLC’s business, its management structure, and the registered agent’s name and address. A member or manager of the company signs the application.
After You Form Your New Hampshire LLC
Once you have filed for the formation of your LLC and received the file-stamped copy, you need to take some other steps to formalize your company.
Create an Operating Agreement
An operating agreement is a document that outlines how the company will operate, and what the members’ roles and contributions are. While this isn’t legally required, it is a good idea for multi-member LLCs so that there isn’t confusion or miscommunication about the members’ rights and responsibilities. Keep a copy of the operating agreement in the company record book with the file-stamped Certificate of Formation.
Get an Employer Identification Number (EIN)
Most LLCs are required to get an EIN. This is a federally assigned nine-digit number given to you by the Internal Revenue Service (IRS). Getting an EIN is free; it takes just a few minutes to complete the online application on the IRS website.
Annual Report
Once you establish an LLC in New Hampshire, you need to file an annual report that affirms any changes in members, address or registered agent. This is completed through the online portal and is due by April 1 of each year regardless of the company’s fiscal year. Filing the report costs $100. A $50 late fee is assessed for reports received after the April 1 deadline.
Frequently Asked Questions
Do LLCs pay sales tax in New Hampshire?
New Hampshire is one of five states that does not impose a sales tax on goods sold. This means LLCs in New Hampshire do not have to collect and track sales tax or file sales tax returns.
How much does it cost to open an LLC in New Hampshire?
It costs $100 to file for a New Hampshire LLC. If you file the form online, there is an additional $2 service fee charged with the $100.
Who pays New Hampshire business tax?
A business with a gross income of $50,000 or more must pay a 7.7% Business Profits Tax (BPT) on income from business activities in New Hampshire. For taxable periods ending on or after December 31, 2022, the income threshold is increased to $92,000 and the tax rate is reduced to 7.6%.
What kind of tax flexibility does an LLC provide?
LLCs can be taxed as sole proprietorships, partnerships, C corporations (C-corps) or S corporations (S-corps). This choice allows members of an LLC to minimize their tax burden.
