New Hampshire LLC
New Hampshire LLC
Form a New Hampshire LLC
At LawInc, we keep things simple and allow you to easily form your New Hampshire (NH) Limited Liability Company online or over the phone (800-989-5294).
New Hampshire LLC formation is simple with LawInc.com. Once you submit your application, we check name availability, prepare your articles of organization and file your paperwork with the New Hampshire Secretary of State. As soon as your New Hampshire LLC is formed, we forward you your final paperwork.
A New Hampshire LLC can help protect your personal assets, such as your home, car or family savings. In the event of a lawsuit or if your business should fail, your personal assets cannot be touched, assuming you have properly formed, capitalized and maintained your LLC. This limited liability feature of a New Hampshire LLCs is not available in a sole proprietorship or general partnership, where the business owners are personally liable for all business debts.
Let LawInc walk you through the New Hampshire Limited Liability Company formation process. Our clear, concise and easy to use website, helps keep things simple.
New Hampshire LLC Name
The first step in forming a New Hampshire Limited Liability Company (LLC) is selecting the business name. New Hampshire LLC names:
- Must contain “Limited Liability Company” or “Limited Company” or the abbreviation “L.L.C.,” “LLC,” “L.C.,” or “LC.” “Limited” may be abbreviated as “Ltd.,” and “Company” may be abbreviated as “Co.”
An available New Hampshire LLC name may be reserved for 120 days.
LawInc.com permits you to choose up to three names and will conduct a name search for your New Hampshire LLC, prior to filing.
New Hampshire LLC Formation
New Hampshire LLC Filing Procedure: When forming a New Hampshire LLC, the New Hampshire Articles of Organization must be filed with the New Hampshire Secretary of State. The New Hampshire Articles of Organization must state:
- The New Hampshire LLC name.
- Name and address of each New Hampshire LLC organizer.
- Street address of New Hampshire registered agent.
- Street address of principle place of business.
New Hampshire LLC Organizers: An New Hampshire limited liability company can be formed by one (1) or more organizers.
New Hampshire LLC Members: New Hampshire LLCs require 1 or more members. There is no residence or age requirement. New Hampshire LLC members are not required to be listed in the Articles of Organization.
New Hampshire LLC Duration: The period of duration of a limited liability company shall be perpetual unless the New Hampshire Articles of Organization place a limitation on the companyâ€™s existence or until dissolution or termination.
New Hampshire Registered Agent: An New Hampshire LLC must maintain a registered agent and office to receive service of process in New Hampshire. The New Hampshire registered agent should be available, at an New Hampshire physical address, during normal business hours to accept important legal and tax documents on behalf of the New Hampshire LLC. The registered agent can either be (1) a domestic entity or a foreign entity that is registered to do business in New Hampshire or (2) an individual resident of the state. A New Hampshire LLC may not act as its own agent.
New Hampshire LLC Operating Agreement: After filing, it is highly advised that an operating agreement is drafted which dictates the LLC internal affairs and management. There is no set criteria, but an New Hampshire LLC operating agreement should reference how the New Hampshire LLC is managed, allocation of profits and losses and member capital contributions. The New Hampshire LLC operating agreement does not need to be filed.
New Hampshire LLC Post-Filing Requirements
New Hampshire LLC Annual Report: New Hampshire LLCs are required to file an annual report. The New Hampshire LLC annual report can be filed online. The annual report is due on April 1st of every year.
New Hampshire LLC Taxes
New Hampshire State Income Tax: The LLC tax rate for New Hampshire is variable, depending on New Hampshire taxable net income.
Federal Income Tax: An advantage of the LLC is its tax flexibility. LLC members are allowed to select how the entity will be taxed. An LLC may be classified for federal income tax purposes as either a:
- Sole proprietorship
- Partnership, or
Single member LLCs are treated the same as sole proprietorships. Profits are reported on Schedule C as part of your individual 1040 tax return. Self-employment taxes on New Hampshire LLC net income must be paid just as you would with any self-employment business.
Most New Hampshire multi-member LLCs elect to be treated as partnerships by the IRS and file IRS Form 1065. On this form, New Hampshire LLC profits are reported and allocated to each of the owners according to the New Hampshire LLC’s operating agreement. Each owner is given a Schedule K-1, which shows each owner’s share of LLC income or loss. The owner then reports and pays taxes on this income on the owner’s annual 1040 income tax return. It is important to note that as with sole proprietorships, all New Hampshire LLC profits are taxed to the owners, even if they are not actually distributed by the LLC. This situation can arise when the LLC needs to use its profits to pay ongoing expenses.
If pass-through taxation is not desired, an LLC may elect to be taxed as a corporation by completing IRS Form 8832. If this election is made, the LLC is taxed as a C corporation by the federal government. Because the corporate income tax rates for the first $75,000 of corporate taxable income are lower than the individual income tax rates that apply to the taxable income of non-corporate taxpayers, it is possible a net income tax savings can result from this tax election. Additionally, an LLC can be taxed like an S corporation by filing IRS Form 2553.
Federal Tax Identification Number/Employer Identification Number (EIN): The Federal Tax Identification Number, also known as the Employer Identification Number (EIN) is a number that is assigned to a business by the Internal Revenue Service. An EIN is like a Social Security Number for a business. It is a requisite for certain business functions such as opening bank accounts or hiring employees. An EIN is typically required if the New Hampshire LLC has more than one owner or any employees.
New Hampshire LLC Dissolution/Cancellation
New Hampshire LLC Dissolution/Cancellation: In order to dissolve or cancel an New Hampshire LLC, the members or managers must file a Certificate of Cancellation with the New Hampshire Secretary of State.
Acts Triggering New Hampshire LLC Dissolution: A New Hampshire LLC can be dissolved upon the happening of one of the following:
- At a time specified in the Articles of Organization or operating agreement;
- Upon occurrence of events specified in the Articles of Organization or operating agreement;
- Consent by the specific number or percentage of members indicated in the operating agreement;
- At any time there are no members; or
- Judicial decree to dissolve by a Court.