How to Start an LLC in New Hampshire | 2024 Guide

Start a LLC in New Hampshire

How to Start an LLC in New Hampshire: If you’re looking to launch a business in New Hampshire, starting a Limited Liability Company (LLC) may be the right choice for you. An LLC provides personal liability protection for its owners while giving them flexibility in managing and taxing the business. This guide provides a step-by-step process for starting an LLC in New Hampshire. From choosing a unique name to registering with the state and obtaining necessary licenses and permits, Webinarcare Editorial Team will walk you through setting up your new business entity. So grab a pen and paper, and let’s get started!

What is a Limited Liability Company?

A Limited Liability Company (LLC) is a type of business entity that combines a corporation’s limited liability protection with a partnership’s tax benefits. LLCs are popular among small business owners for their flexibility and ease of formation. In New Hampshire, an LLC must have a unique name and file Certificate of Formation with the Secretary of State. Depending on their business needs, LLCs may also elect to be taxed as a corporation or an S-corp. Owners of an LLC, called members, are not personally liable for the company’s debts and losses, and the company’s profits and losses are passed through to the member’s personal tax returns. This makes an LLC an attractive option for those seeking personal liability protection and simplified taxation.

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Steps on How to Start an LLC in New Hampshire

To form an LLC for your business, you must follow the guidelines that include naming your LLC, hiring a Registered Agent, filing your Certificate of Formation, creating your LLC operating agreement, getting an employer identification number, opening a bank account and getting business licenses and permits.

Step 1: Name your LLC in New Hampshire

After you have decided on the idea to form an LLC in New Hampshire, deciding the name for your LLC is significant. There is a complete guide on LLC name guidelines for you to have a proper LLC business name. Here are some regulations you must follow while naming your LLC,

  • The name should not be confused with a government entity.
  • The name should be unique.
  • The name should be available to use.
  • Any other business does not use the name.
  • The new name must include “LLC” if it is a limited liability company.

In New Hampshire, if you do not wish to file your LLC right away but want to hold the name that you have decided on, then you can reserve your LLC name for 120 days. You must file a name reservation application in New Hampshire Secretary of State to keep the name.

Recommended: We recommend a professional service that can offer you unlimited name search, trademark and copyright registration at a reasonable price. We recommend using –

LegalZoom($0 + State Fees for LLC Formation)

You can register your business under a different legal name if your preferred name isn’t available. Once you have chosen a name, you can submit an application for filing New Hampshire DBA (doing business as). In this manner, you can choose any name you desire for your business. A DBA allows a company to operate under the name of the person or entity who owns it. If you have decided to file for a DBA, you can file it in three methods, online, by mail, and in person filing. However, before filing a DBA, you should know that you need to renew your DBA from up to five years, which costs around $50.

Step 2: Hire a Registered Agent in New Hampshire

Hiring a Registered Agent in New Hampshire is a must since a Registered Agent is a person or business entity responsible for receiving important legal documents on behalf of your New Hampshire LLC. Most states require you to designate a Registered Agent when forming your LLC.

The qualifications of a Registered Agent vary depending on the jurisdiction. Still, generally, a Registered Agent must meet the following criteria:

  • Availability: A Registered Agent must be available during regular business hours to receive and process legal documents and official correspondence.
  • Physical Address: A Registered Agent must have a physical street address within the state where the LLC is registered. This address, known as the registered office, cannot be a P.O. Box.
  • Residency or Authorization: For individuals serving as Registered Agent, they must be residents of the New Hampshire where the LLC was formed. A business entity acting as a Registered Agent must be authorized to do business within that state.
  • Age: A Registered Agent must be at least 18 years old.
  • Good standing: A Registered Agent should not have any legal or financial issues that impede their ability to fulfill their duties.

Choosing a reliable and responsible Registered Agent is essential, as failure to receive and respond to legal documents can seriously affect your business. Some businesses use professional Registered Agent services to ensure compliance and proper handling of legal matters.

However, if you would like to have an easier process in filing the necessary documents, you can get New Hampshire Registered Agent Services.

Step 3: File your Certificate of Formation in New Hampshire

The Certificate of Formation for an LLC is an important document to start your limited liability company (LLC). New Hampshire Certificate of Formation is a simple document that contains the business name and address as well as the name and address of the person who received lawsuits on behalf of the organization.

Here are the guidelines and specific requirements in filing your Certificate of Formation in New Hampshire.

1. Obtain the Necessary Forms: Visit the New Hampshire’s business filing office website, usually the New Hampshire Secretary of State’s office, to download the required forms or file online.

2. Provide the Required Information: Fill in the necessary details in the form, which typically include:

  • The name of your LLC (must include an LLC designator such as “LLC,” “L.L.C.,” or “Limited Liability Company”)
  • The purpose of your LLC (a general statement or specific business activities)
  • The address of your LLC’s principal place of business
  • The name and address of your registered agent (the person or business entity responsible for receiving legal documents on behalf of your LLC)
  • The management structure of your LLC (member-managed or manager-managed)
  • The duration of your LLC, if not perpetual
  • The names and addresses of the LLC’s organizers or members

3. Sign and File the Form: Submit the completed form in the {state} state office, either by mail, in person, or online. You may mail it at Corporation Division, NH Dept. of State, 107 N Main St, Rm 204, Concord, NH 03301.

4. Pay the Filing Fee: When you submit your Certificate of Formation, you’ll need to pay a filing fee of $100. Make sure to check and include the correct payment with your submission.

5. Receive Confirmation: After your Certificate of Formation have been filed and processed, you’ll receive a confirmation from New Hampshire, typically a stamped and approved copy of the document or a Certificate of Formation.

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Once you have successfully filed your Certificate of Formation and it has been approved, your New Hampshire LLC is officially formed. However, remember to complete additional steps, such as creating an Operating Agreement, obtaining an EIN, and registering for any required licenses and permits.

Step 4: Create Your New Hampshire Operating Agreement

An operating agreement is a document that contains all of your company’s organizational details. Drafting an operating agreement in most states is not required. Yet, having one as an internal document is strongly advised. An operating agreement includes information like-

  • About Business
  • Members and management
  • Capital contribution
  • Profit Distribution
  • Change of membership
  • Dissolution

To understand how an operating agreement works, you should check out how to create an operating agreement in New Hampshire.

Recommended: Get oprating agreement drafts ready on your table with a help of a professional service. We recommend using –

LegalZoom($0 + State Fee for LLC formation)

Step 5: Get an EIN

After documenting the operating agreement, you should get or request an Employer Identification Number (EIN) in New Hampshire. An EIN will serve as the tax ID for your professional corporation. EIN can be obtained from the Internal Revenue Service (IRS). It is a 9-digit number similar to Social Security Number. EIN, however, is distinct from SSN. It is only used for business-related activities, particularly for submitting general taxes. The form must be completed and uploaded to the IRS website.

The application of an EIN in New Hampshire can be through the following:

  • Apply Online- The online EIN application is the preferred method for customers to apply for and obtain an EIN.
  • Apply by Fax- Taxpayers can fax the completed Form SS-4 application to the appropriate fax number), after ensuring that the Form SS-4 contains all of the required information.
  • Apply by Mail- The EIN application Form SS-4 can be filed via mail. The processing time frame to receive the mail is four weeks.
  • Apply by Telephone-International Applicants – International applicants may call 267-941-1099 (not a toll-free number) from 6 a.m. to 11 p.m. (Eastern Time) Monday through Friday to obtain their EIN.

In obtaining an EIN for your LLC, you should be aware to ensure that your LLC is eligible for an EIN. You need an EIN if you have employees, operate as a corporation or partnership, or meet other specific IRS criteria. Before applying, gather the required information, including your LLC’s name, mailing address, and the responsible party’s Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). Also, you can apply for an EIN through various methods, including online, by fax, mail, or telephone (for international applicants).

Recommended: Professional services have the EIN included in their LLC formation package. We recommend using –

LegalZoom($0 + State Fee for LLC formation)

Step 6: Open a Bank Account and Prepare for Taxes

After you have filed for and received your Employer Identification Number, you should open a bank account because you will use this account for yourself, your clients, and your employees.

Your business dealings in New Hampshire might be simpler with a US business bank account because it boosts your company’s legitimacy and liquidity. Most banks demand an EIN to create a business bank account for firms other than sole proprietorships. Also, having an EIN makes tax preparation easier. You can anticipate paying employment and corporate taxes with New Hampshire LLC.

Opening a bank account is necessary for New Hampshire business. If you are still wondering where to open an account in your New Hampshire, you should check the Best Bank for Small Business in New Hampshire.

Step 7: Get a Business and License Permit

You must get a business license in New Hampshire before establishing your LLC. A business license is a legal document granted by a state government body that permits you to conduct business within the area under its jurisdiction. The price of business licenses and permits in New Hampshire ranges from $50 – $300. If there is a requirement for a specific license or city-based permit, you must inquire with the New Hampshire Secretary of State.

Cost to Form an LLC in New Hampshire

Even if you have a business name and structure in mind, you should consider whether you can afford the costs of forming an LLC in New Hampshire. Certificate of Formation costs around $100. The initial filing fee is $100, and the annual fee is $100.

If you forget to pay the annual fee for your New Hampshire LLC, you will have a penalty of $50. However, you can check the New Hampshire LLC Cost for additional information.

Advantages of Creating New Hampshire LLC

Even though some people decide on what to do with their businesses, some choose to put it in their own individual name, while others still choose to set it up via LLC in New Hampshire. Important benefits will help you set up an LLC in New Hampshire.

  • Pass-Through Taxation: The pass-through structure will make the company not pay twice the tax. Most start-ups and entrepreneurs in New Hampshire apply for an LLC because of this structure. Pass-through taxation refers to how income and losses from an LLC (Limited Liability Company) are passed through to its members (owners) for tax purposes rather than being taxed at the business entity level. This means the LLC does not pay federal income taxes; the members’ profits and losses are allocated based on their interests. Each member then reports their share of the LLC’s income or losses on their personal tax returns and pays taxes at their individual tax rates.
  • Ownership Flexibility: If you need sole and primary control over your company’s operations, a sole proprietorship will allow you to do so. If you apply for an LLC in New Hampshire with flexibility, you will have default rules set by law and need an operating agreement.
  • Personal Liability Protection: Personal Liability Protection protects your business from damage, debts, or legal obligations. In personal liability protection, the company’s profits and earnings will stay as is even if your company is about to be sued. This protection of having an LLC in New Hampshire can also be extended to the company’s properties and assets. Many start-up companies will benefit from this since most are starting to build a company. Even if liability exists, the LLC in New Hampshire will protect its assets.

FAQs

What is an LLC in New Hampshire?
An LLC in New Hampshire is a legal business entity that combines the liability protection of a corporation with the tax benefits of a partnership.
What is required to form an LLC in New Hampshire?
To form an LLC in New Hampshire, you need to file Articles of Formation with the Office of the Secretary of State and pay the filing fee.
What is the cost to form an LLC in New Hampshire?
The cost to form an LLC in New Hampshire is $100.
Do I need an attorney to form an LLC in New Hampshire?
No, you do not need an attorney to form an LLC in New Hampshire.
Can a non-US citizen form an LLC in New Hampshire?
Yes, a non-US citizen can form an LLC in New Hampshire.
How many members are required to form an LLC in New Hampshire?
Only one member is required to form an LLC in New Hampshire.
Is there a residency requirement to form an LLC in New Hampshire?
No, there is no residency requirement to form an LLC in New Hampshire.
What is the Registered Agent requirement in New Hampshire?
An LLC in New Hampshire is required to maintain a Registered Agent, who must have a physical address in the state.
Can I be my own Registered Agent in New Hampshire?
Yes, you can be your own Registered Agent in New Hampshire.
Can I change the Registered Agent of my LLC in New Hampshire?
Yes, you can change the Registered Agent of your LLC in New Hampshire.
When should I renew my LLC in New Hampshire?
You need to renew your LLC in New Hampshire every year by filing an annual report.
What is the cost to renew my LLC in New Hampshire?
The cost to renew your LLC in New Hampshire is $100.
Can I dissolve my LLC in New Hampshire?
Yes, you can dissolve your LLC in New Hampshire.
How do I dissolve my LLC in New Hampshire?
To dissolve your LLC in New Hampshire, you need to file Articles of Dissolution with the Office of the Secretary of State.
What is the cost to dissolve my LLC in New Hampshire?
The cost to dissolve your LLC in New Hampshire is $35.
Can I reinstate my dissolved LLC in New Hampshire?
Yes, you can reinstate your dissolved LLC in New Hampshire.
How do I reinstate my dissolved LLC in New Hampshire?
To reinstate your dissolved LLC in New Hampshire, you need to file a Certificate of Reinstatement with the Office of the Secretary of State.
Can I convert my LLC to a different business structure in New Hampshire?
Yes, you can convert your LLC to a different business structure in New Hampshire.
Can I use a PO box for my LLC in New Hampshire?
No, you cannot use a PO box for your LLC in New Hampshire.
What is the Business Profits Tax in New Hampshire?
The Business Profits Tax in New Hampshire is a tax on net income, currently at a rate of 7.7%.
What is the Business Enterprise Tax in New Hampshire?
The Business Enterprise Tax in New Hampshire is a tax on business activities, currently at a rate of 0.6%.
What is the minimum wage in New Hampshire?
The minimum wage in New Hampshire is currently $7.25 per hour.
Do I need a business license to operate my LLC in New Hampshire?
No, you do not need a business license to operate your LLC in New Hampshire.
What business related taxes does my LLC need to pay in New Hampshire?
Your LLC needs to pay Business Profits Tax and Business Enterprise Tax in New Hampshire.
How long does it take to form an LLC in New Hampshire?
It typically takes 10-15 business days to form an LLC in New Hampshire.
Can I operate my LLC in multiple states while still being formed in New Hampshire?
Yes, you can operate your LLC in multiple states while still being formed in New Hampshire.
Can I run multiple LLCs operate in different states while still being formed in New Hampshire?
Yes, you can run multiple LLCs operate in different states while still being formed in New Hampshire.
What is the Electronic filing system provided by the New Hampshire Secretary of State?
The New Hampshire Secretary of State provides individuals with online services to file their business reports, formations, and renewals electronically with the State.
Can LLC be more cost-effective than other business entities in New Hampshire?
LLCs can be more cost-effective for small businesses with few members, as there are fewer regulations and fewer required filings. However, other factors such as taxation should also be considered.
What is an LLC and should I consider starting one in New Hampshire?
An LLC (limited liability company) is a type of legal entity that combines the benefits of a corporation with a more flexible structure. Whether you should start one in New Hampshire depends on your business goals and circumstances.
What are the benefits of forming an LLC in New Hampshire?
Some of the benefits of forming an LLC in New Hampshire include protecting personal assets from business liabilities and avoiding double taxation.
What are the requirements to form an LLC in New Hampshire?
New Hampshire requires 1 or more members and a registered agent for service of process. There are also certain forms and fees that must be filed with the New Hampshire Secretary of State.
Can I be my own registered agent in New Hampshire?
Yes, you can act as your own registered agent in New Hampshire if you meet certain conditions.
Can I reserve a name for my LLC before filing with the state?
Yes, you can reserve a name for your LLC before filing with the New Hampshire Secretary of State.
How much does it cost to form an LLC in New Hampshire?
The filing fee for an LLC in New Hampshire is $100.
Do I need to file an annual report for my LLC in New Hampshire?
Yes, LLCs in New Hampshire are required to file annual reports with the Secretary of State.
What is the tax structure for an LLC in New Hampshire?
New Hampshire does not have a state income tax or general sales tax, but LLCs may be subject to federal income taxes.
Do I need to get any licenses or permits to operate my LLC in New Hampshire?
Depending on your business activities and industry, you may need to obtain licenses or permits at the state or local level.
Can an LLC do business outside of New Hampshire?
Yes, an LLC can conduct business in other states as long as it registers with those states and complies with their laws.
Do I need a business plan to start an LLC in New Hampshire?
While a business plan is not required to start an LLC in New Hampshire, it can be helpful for outlining your goals and strategies.
Can I change the name or structure of my LLC after it is formed in New Hampshire?
Yes, you can change the name or structure of your LLC in New Hampshire, but there may be additional paperwork and fees involved.
Do I need to carry insurance for my LLC in New Hampshire?
Depending on your business activities, insurance may be required or strongly recommended for your LLC in New Hampshire.
Do I need to have an operating agreement for my LLC in New Hampshire?
While an operating agreement is not required by law, it is a good idea to have one, as it sets out the internal governance and management of the LLC.
Can non-US residents start an LLC in New Hampshire?
Yes, non-US residents can start an LLC in New Hampshire, but there may be additional legal and tax implications to consider.
Can I convert an existing business to an LLC in New Hampshire?
Yes, it is possible to convert an existing business to an LLC in New Hampshire, but there may be legal and tax considerations to take into account.
Can I create a series LLC in New Hampshire?
Yes, New Hampshire allows for series LLCs, which are LLCs with multiple sub-entities or series within them.
How do I dissolve an LLC in New Hampshire?
To dissolve an LLC in New Hampshire, there is a form and filing fee that must be submitted to the Secretary of State.
Can I reinstate a dissolved LLC in New Hampshire?
Yes, a dissolved LLC in New Hampshire can be reinstated within 5 years of being dissolved by filing the appropriate paperwork and payment of fees.
What tax forms do I need to file for my LLC in New Hampshire?
Depending on your LLC’s structure and activities, you may need to file federal income tax returns, state business taxes, and other forms.
What is considered compliance for an LLC in New Hampshire?
Compliance for an LLC in New Hampshire entails filing annual reports, paying taxes, and complying with any licensing or permit requirements.
Can I change the registered agent for my LLC in New Hampshire?
Yes, the registered agent for an LLC in New Hampshire can be changed by filing the appropriate paperwork with the Secretary of State.
Do I need to publish a notice of my LLC formation in New Hampshire?
No, New Hampshire does not require LLCs to publish notice of their formation in a local newspaper.
Can I have a location for my LLC in a different state than where its primary governance resides?
Yes, an LLC can have a location in a different state than where it is primarily governed, as long as it complies with the laws of both states.
Does New Hampshire offer any incentives for LLCs?
New Hampshire does offer some tax incentives for businesses, but specific offerings for LLCs may vary.
Can I be an LLC and a sole proprietor in New Hampshire?
No, an LLC is a separate legal entity from its owners, so it is not possible to be both an LLC and a sole proprietor at the same time.
Can I start an LLC online in New Hampshire?
Yes, the paperwork to start an LLC in New Hampshire can be filed online using the Secretary of State’s website.
Are there any requirements for how I handle bookkeeping for my LLC in New Hampshire?
While there are no specific requirements for how to handle bookkeeping for an LLC in New Hampshire, it is important to keep accurate records for taxes and legal compliance purposes.

Also Read

How Fast Can I Form an LLC in New Hampshire

One of the primary benefits of forming an LLC in New Hampshire is the limited liability protection it provides to its owners. This means that the personal assets of the LLC’s owners are typically shielded from the debts and liabilities of the business, providing a level of protection and peace of mind that is crucial for many entrepreneurs. Additionally, an LLC offers flexibility in terms of management structure, allowing owners to choose how they want their business to be run.

The process of forming an LLC in New Hampshire is relatively fast and efficient. The first step is to choose a name for the LLC that complies with state regulations and is not already in use by another business. Once a name is selected, it must be registered with the New Hampshire Secretary of State. This can typically be done online, and once the name is approved, the next step is to file Articles of Organization, which outline basic information about the LLC, such as its name, purpose, and address.

After the Articles of Organization are filed and approved, the next step is to create an Operating Agreement, which outlines how the business will be managed and operated. While not required by the state, having an Operating Agreement is highly recommended as it can help prevent disagreements among owners and provide clear guidelines for how the business should be run.

Overall, the process of forming an LLC in New Hampshire can be completed relatively quickly, especially if all necessary information and documentation are prepared in advance. While the specific timeline can vary depending on individual circumstances, it is not uncommon for an LLC to be formed within a matter of days or weeks.

In conclusion, forming an LLC in New Hampshire is a relatively fast and efficient process that provides valuable protections and flexibility for business owners. With the right preparation and knowledge of the process, entrepreneurs can create a legal entity that suits their needs and allows their business to thrive in the state.

Conclusion

In conclusion, starting an LLC in New Hampshire is a strategic choice for entrepreneurs seeking a flexible, straightforward business structure with limited liability protection. By following the essential steps, including choosing a business name, filing Certificate of Formation, appointing a Registered Agent, creating an Operating Agreement, obtaining an EIN, and securing the necessary licenses and permits, you can successfully establish your LLC. This business structure offers numerous advantages, such as pass-through taxation and ownership flexibility, making it an attractive option for small business owners looking to grow and protect their ventures. As always, consult legal and business professionals for guidance specific to your situation and state requirements.

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