LLC Cost in New Hampshire | How Much Does It Cost to Start an LLC

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LLC Costs in New Hampshire

Forming a Limited Liability Company (LLC) in New Hampshire is a popular choice for entrepreneurs and small business owners who want to protect their personal assets and enjoy flexibility in their business operations. LLC formation costs vary from state to state, and it is essential to understand the costs involved in forming and maintaining an LLC in New Hampshire.

If you would like to know more about the New Hampshire LLC Cost, read the whole article until the end. Webinarcare Editorial Team will help you gain knowledge on how much an LLC Costs in New Hampshire. You must be guided by all the factors gathered in this article.

How to Start an LLC?

Before we dive into the LLC Cost in New Hampshire, you should know the step-by-step process of starting an LLC, including selecting a unique business name, appointing a Registered Agent, filing the necessary documents, and fulfilling any additional requirements, such as obtaining licenses or permits that are specific to your industry or location.

Here are the steps in starting an LLC in New Hampshire:

  • Step 1: Choose a Unique Business Name
    The first step in starting an LLC in New Hampshire is to select a unique business name for your company. The name should be distinguishable from any other registered businesses in the state. You can check the availability of your desired business name by searching the state’s business name database. Once you’ve found an available name, you may need to include “LLC” or “Limited Liability Company” at the end of the name to comply with state requirements.
  • Step 2: Appoint a Registered Agent
    A Registered Agent is someone who will receive official legal and tax documents on behalf of your LLC. The Registered Agent must have a physical address in New Hampshire and be available during normal business hours. You have the option to appoint yourself as the registered agent or hire a professional registered agent service.
  • Step 3: File the Certificate of Formation
    To officially form your LLC, you need to file the Certificate of Formation with the New Hampshire Secretary of State or the appropriate state agency. The Certificate of Formation typically requires basic information about your LLC, such as its name, address, Registered Agent details, and the name and address of the LLC’s members or managers.
  • Step 4: Create an Operating Agreement
    Once your LLC is formed, it’s highly recommended to create an operating agreement in New Hampshire. Although not required by New Hampshire law, an operating agreement is a crucial internal document that outlines the ownership, management, and operating procedures of your LLC. It helps establish clear guidelines and expectations among members, and it can be especially useful in the event of disputes or disagreements in the future. The operating agreement can be customized to fit the specific needs and goals of your LLC.
  • Step 5: Obtain Required Licenses and Permits
    Depending on the nature of your business, you may need to obtain specific licenses or permits at the federal, state, or local level. Research the licensing requirements in New Hampshire and apply for business licenses in New Hampshire related to your industry or activities. Common examples include professional licenses, health or safety permits, and sales tax permits.
  • Step 6: File for an Employer Identification Number (EIN)
    An Employer Identification Number (EIN) is a unique nine-digit number issued by the Internal Revenue Service (IRS) that is used to identify your LLC for tax purposes. Even if you don’t have employees, obtaining an EIN is typically required if you plan to open a business bank account, hire contractors, or file certain tax forms. You can easily apply for an EIN in New Hampshire through the IRS website.
  • Step 7: Comply with Ongoing Requirements
    Once your LLC is established in New Hampshire, it’s important to stay in compliance with any ongoing requirements. This may include filing periodic reports, paying Annual Report fees, and renewing licenses or permits. Familiarize yourself with the specific obligations for maintaining your LLC’s good standing in New Hampshire.

Remember, starting an LLC in New Hampshire involves some specific steps and requirements that may differ from other states. It’s advisable to hire an LLC Services in New Hampshire that specializes in business formation to ensure that you follow all the necessary procedures accurately and efficiently. We reviewed the Best LLC Services for you to check out.

LLC Cost in New Hampshire

It is crucial to consider the costs associated with the formation and maintenance of your business. The costs of establishing and operating an LLC in New Hampshire can vary based on several factors, including the initial formation fees, ongoing compliance requirements, and optional expenses.

Initial LLC Costs

When starting a limited liability company (LLC), knowing the initial costs associated with forming and registering your new business entity is essential. Understanding and preparing for these expenses can help you budget effectively and set your New Hampshire business on a path to success. Some common initial costs associated with forming an LLC include Certificate of Formation filing fees, Registered Agent fees, and additional services, such as business name reservation fees. 

Certificate of Formation Filing Fee

The first step in forming an LLC in New Hampshire is to file the New Hampshire Certificate of Formation with the New Hampshire Secretary of State. This document officially creates the LLC and includes essential information about the business, such as its name, address, and Registered Agent. 

This document includes essential information about your LLC, such as:

  • The name of your LLC
  • The address of your LLC’s principal office
  • The name and address of your Registered Agent
  • The purpose of your LLC (optional in some states)

You can typically file the Certificate of Formation online, by mail, or in person. A filing fee is associated with this process, which costs around $100. You can also file by mailing it to New Hampshire Secretary of State, which is located at Corporation Division, NH Dept. of State, 107 N Main St, Rm 204, Concord, NH 03301.

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Registered Agent Fee

An LLC in New Hampshire must designate a Registered Agent who will be responsible for receiving legal and government documents on behalf of the business. You can act as your own Registered Agent or appoint someone you know. Professional Registered Agent in New Hampshire typically charge an annual fee ranging from $50 – $150.

 In New Hampshire, your Registered Agent must:

  • Be a resident of New Hampshire or a business entity authorized to do business in the state.
  • Have a physical address in New Hampshire (P.O. boxes are not acceptable)

Choosing a reliable and responsible Registered Agent is essential, as failure to receive and respond to legal documents can seriously affect your business. 

We reviewed some of the Best Registered Agent Services in New Hampshire and provided features as an add-on with their packages for you to check out.

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Business Name Reservation Fee

If you have a specific business name in mind and want to ensure it is available when you are ready to file your Certificate of Formation, you can reserve the business name with the New Hampshire Secretary of State. 

In New Hampshire, your LLC name must:

  • Include the words “Limited Liability Company,” “LLC,” or “L.L.C.
  • Not contain any words or phrases that are prohibited by state law
  • Be distinguishable from the names of other businesses registered in the state

However, 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 the New Hampshire Secretary of State to keep the name. 

The online name reservation fee is $15, while the mail name reservation fee is $15. 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 a DBA (doing business as). 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 New Hampshire DBA, you should know that you need to renew your DBA for up to five years, which cost $50.

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Ongoing LLC Costs

After you know the initial costs of forming an LLC in New Hampshire, you should also know the ongoing costs once you have filed for an LLC. Here are the involved costs that you need to know.

Annual Report Filing Fee

To keep your LLC in good standing, you must file Annual Report with the New Hampshire Secretary of State. The Annual Report provides updated information about your LLC, such as changes in address, members, or Registered Agent. 

In New Hampshire, the Annual Report fee costs $100 which can be paid every 1 year (1st April).

Franchise Tax or Annual LLC Tax

Some states require LLCs to pay an annual franchise or LLC tax, separate from the Annual Report filing fee. Franchise tax, or annual tax, is a fee imposed by New Hampshire on businesses, including LLCs and New Hampshire Corporations, for the privilege of operating within their jurisdiction. This tax is separate from income taxes and is usually based on factors such as the company’s net worth, assets, capital, or a fixed dollar amount, depending on the New Hampshire’s specific tax regulations. 

New Hampshire LLC Taxes To Be Paid

The State of New Hampshire is one of those rarest states in the United States that does not levy any personal income tax on businesses. However, the business LLCs must file other taxes with the State authorities.

  • Sales Tax: A sales tax is a government-imposed tax on the sale of goods and services. It is generally added to the price of a product or service at the point of sale and paid by the consumer. The tax is collected by the retailer or service provider, who then remits the collected tax amount to the relevant government authority. In New Hampshire, the sales tax rate is 0%; New Hampshire has no sales tax. 
  • State Income Tax: Considering other taxes in New Hampshire, you should pay for the state income tax, with a rate of 7.70%. 
  • LLC Federal Self-Employment Tax: Federal self-employment tax rates are the same across all states. Self-employment taxes are imposed on self-employed individuals or members of a Limited Liability Company (LLC) taxed as a sole proprietorship or partnership.
  • Property Tax: The property tax is fixed at 2.20% of industrial, commercial, residential, agricultural, and all other properties.

Business Licenses and Permits

Depending on the nature of your New Hampshire business and the location of your operations, you may need to obtain permits and business licenses in New Hampshire. The costs of these licenses and permits will vary based on your specific business and location. In New Hampshire, the business license ranges from $50 – $300. However, research the requirements for your LLC in New Hampshire and budget for these expenses accordingly.

Optional LLC Costs

Here are the optional costs you must consider if you will form an operating agreement or hire a professional service.

Operating Agreement

Although not required by law, it is highly recommended that LLCs create an operating agreement in New Hampshire. This document outlines the LLC’s ownership structure, management, and operating procedures. Hiring a business attorney to draft an operating agreement can cost anywhere from $500 to $2,000, or you can use online resources and templates to create one yourself.

Professional Services

You may hire professionals such as attorneys, accountants, or business consultants to help you establish and run your New Hampshire LLC. These services can provide valuable expertise and guidance but come at an additional cost. Consider the potential benefits and weigh them against the costs when hiring professional assistance.

You may check out the Best Business Attorney Services in New Hampshire that offer their professional services to form your business.

Can I Set Up an LLC For Free?

It’s impossible to set up an LLC entirely for free, as state filing fees and other costs are associated with establishing an LLC. However, you can save money by handling the formation process instead of hiring a professional service. Here are some steps to help you minimize the cost of setting up an LLC:

  • Choose your LLC’s name and check for availability in your state. This can generally be done through the Secretary of State’s website.
  • Prepare and file the Certificate of Formation yourself. New Hampshire offer an online filing option or downloadable forms on their websites. By completing this process independently, you can avoid paying additional fees for a professional service.
  • Act as your own Registered Agent if permitted within New Hampshire. It allows the business owner to serve as the Registered Agent, saving you the cost of hiring a professional registered agent service.
  • Create your own Operating Agreement using online resources and templates. Although not required in every state, an Operating Agreement is highly recommended to outline your LLC’s ownership structure and management. By drafting this document yourself, you can save on legal fees.
  • Research and apply for any required licenses and permits on your own. Depending on your business type and location, you may need specific permits or licenses. These costs can vary, but handling the application process yourself can save you the expense of hiring a professional service.

While you can’t set up an LLC for free, taking a do-it-yourself approach and minimizing the use of professional services can help you save money during the formation process. However, handling these tasks requires time and effort, and there may be additional legal or financial risks if mistakes occur.

FAQs

What is the cost to form an LLC in New Hampshire?
The cost to form an LLC in New Hampshire is $100.
How do I file for an LLC in New Hampshire?
To file for an LLC in New Hampshire, you can do so online or by mail.
What is the annual fee for an LLC in New Hampshire?
The annual fee for an LLC in New Hampshire is $100.
Do I have to pay a franchise tax in New Hampshire for my LLC?
Yes, you do have to pay a franchise tax in New Hampshire for your LLC. The current rate is $2.50 per $1,000 of value.
Do I need a registered agent for my LLC in New Hampshire?
Yes, you need a registered agent for your LLC in New Hampshire.
How much does a registered agent cost in New Hampshire?
The cost of a registered agent in New Hampshire varies, but it typically ranges from $50 to $300 per year.
Can I be my LLC’s registered agent in New Hampshire?
Yes, you can be your LLC’s registered agent in New Hampshire as long as you are a resident of the state and have a physical address.
What is the annual report fee for an LLC in New Hampshire?
The annual report fee for an LLC in New Hampshire is $100.
When is the annual report due date for an LLC in New Hampshire?
The annual report due date for an LLC in New Hampshire is April 1st.
How long does it take to form an LLC in New Hampshire?
It typically takes 1-2 days to form an LLC in New Hampshire.
Do I need an operating agreement for my LLC in New Hampshire?
While an operating agreement is not required for an LLC in New Hampshire, it is highly recommended to have one.
Can I change the name of my LLC in New Hampshire?
Yes, you can change the name of your LLC in New Hampshire.
How much does it cost to change the name of my LLC in New Hampshire?
It costs $50 to change the name of your LLC in New Hampshire.
Can I dissolve my LLC in New Hampshire?
Yes, you can dissolve your LLC in New Hampshire.
How much does it cost to dissolve my LLC in New Hampshire?
It costs $35 to dissolve your LLC in New Hampshire.
Can I reinstate my dissolved LLC in New Hampshire?
Yes, you can reinstate your dissolved LLC in New Hampshire.
How long do I have to renew my LLC in New Hampshire?
You must renew your LLC annually in New Hampshire by April 1st.
What are the penalties for failing to renew my LLC in New Hampshire?
The penalties for failing to renew your LLC in New Hampshire include a $50 fee plus interest.
Can I get expedited processing for my LLC formation in New Hampshire?
Yes, you can get expedited processing for your LLC formation in New Hampshire for an additional fee.
How much does LLC expedited processing cost in New Hampshire?
LLC expedited processing costs an additional $50 in New Hampshire.
Can I convert my LLC to another business entity in New Hampshire?
Yes, you can convert your LLC to another business entity in New Hampshire.
How do I convert my LLC to another business entity in New Hampshire?
To convert your LLC to another business entity in New Hampshire, you must file the appropriate paperwork with the state and meet the requirements for the new business entity.
Can I have a single member LLC in New Hampshire?
Yes, you can have a single member LLC in New Hampshire.
What are the benefits of having a single member LLC in New Hampshire?
The benefits of having a single member LLC in New Hampshire include the ability to operate with just one owner and pass-through taxation.
Can an LLC in New Hampshire have multiple owners?
Yes, an LLC in New Hampshire can have multiple owners.
How do multiple owners run an LLC in New Hampshire?
Multiple owners of an LLC in New Hampshire run the business by having a designated manager or by voting on major decisions.
Are LLCs in New Hampshire required to have insurance?
LLCs in New Hampshire are not required to have insurance, but it is highly recommended to protect against liability.
What is the liability protection of an LLC in New Hampshire?
The liability protection of an LLC in New Hampshire protects the personal assets of the owners from business debts and liabilities.
How do I get help with my LLC formation in New Hampshire?
You can get help with your LLC formation in New Hampshire by contacting the New Hampshire Secretary of State’s Office or by enlisting the help of a registered agent or lawyer.
What is the cost to file an LLC in New Hampshire?
The cost is $100 to file the Articles of Organization and $50 for the annual report.
Are there any other fees associated with forming an LLC in New Hampshire?
There may be additional fees for name reservation and expedited processing if desired.
How much does it cost to reserve a name for an LLC in New Hampshire?
The cost to reserve a name is $15 for 120 days.
Does New Hampshire require an LLC to file an operating agreement?
No, operating agreements are not required by New Hampshire law, but it is recommended to have one in place.
What is the minimum number of members required to form an LLC in New Hampshire?
There is no minimum, an LLC can be single-member.
What entity type is an LLC taxed as in New Hampshire?
LLCs in New Hampshire can choose to be taxed as a partnership, S-corporation, or C-corporation.
When is the annual report due for New Hampshire LLCs?
The annual report is due on April 1st each year after the LLC has been formed.
What happens if I don’t file an annual report for my New Hampshire LLC?
There is a penalty fee of $50 for late or non-filing of the annual report, and the LLC may be administratively dissolved.
What is the turnaround time for LLC filings in New Hampshire?
The processing time for LLC filings is typically 5-8 business days.
Is there an expedited processing option available for LLCs in New Hampshire?
Yes, expedited processing is available for an additional fee.
Can I form an LLC online in New Hampshire?
Yes, the Articles of Organization can be filed online through the New Hampshire Secretary of State’s website.
What do I need to include in the Articles of Organization for my New Hampshire LLC?
The Articles of Organization should include the LLC name, registered agent, principal place of business, initial members, and duration if not perpetual.
Can the registered agent for my New Hampshire LLC be an individual or does it have to be a company?
The registered agent can be an individual or a company.
Is a foreign LLC required to register with the state of New Hampshire to conduct business?
Yes, out-of-state LLCs are required to file a Foreign Limited Liability Company Application with the New Hampshire Secretary of State if conducting business in the state.
What is the fee for registering a foreign LLC in New Hampshire?
The fee is $100.
How do I change the name of my New Hampshire LLC?
A Certificate of Amendment needs to be filed with the New Hampshire Secretary of State along with the appropriate fee.
Can I convert a different business type into an LLC in New Hampshire?
Yes, the business can be converted into an LLC by filing the appropriate documents with the Secretary of State.
What is the filing fee for converting a business into an LLC in New Hampshire?
The filing fee for a conversion is $100.
What protections does forming an LLC in New Hampshire provide for my personal assets?
LLCs offer limited liability, which generally means your personal assets are protected from business debts and liabilities.
Can I form an anonymous LLC in New Hampshire?
It is not possible to form an anonymous LLC in New Hampshire as the name of the owner needs to be included on the Articles of Organization.
What is the best name format for an LLC in New Hampshire?
A fitting name typically includes an identifier, such as “LLC” in the official name.
Can I change the address of my registered agent in New Hampshire?
Yes, the registered agent address can be changed by filing a Statement of Change of Registered Agent and/or Registered Office with the New Hampshire Secretary of State.
Do I need an attorney to form an LLC in New Hampshire?
No, an attorney is not required to form an LLC in New Hampshire, but it is encourage to seek professional advice when creating legal documents.
Is there a residency requirement for LLC members in New Hampshire?
There is no residency requirement for members of an LLC in New Hampshire.
Can an LLC be dissolved in New Hampshire?
Yes, an LLC can be dissolved by filing Articles of Dissolution with the New Hampshire Secretary of State.
Are there any annual requirements for New Hampshire LLCs to maintain their good standing?
LLCs must file an annual report by April 1 each year and pay the annual fee.
Can I withdraw as a member of an LLC in New Hampshire?
Generally, LLC members can seek to withdraw at any time, if the LLC does not object unless the operating agreement state otherwise.
How do I dissolve a foreign LLC in New Hampshire?
The process of dissolving a foreign LLC in New Hampshire three-step

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Conclusion

Forming and maintaining an LLC in New Hampshire involves various costs, including initial filing fees, ongoing annual report fees, and taxes. Understanding and planning for these costs is essential when establishing your LLC. Additionally, consider any optional expenses, such as hiring professional services or drafting an operating agreement, to ensure the success and longevity of your LLC in New Hampshire.

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