Home How Much Does It Cost to Start an LLC? How Much Does an LLC Cost In New Hampshire? Fees & Taxes in NH

How Much Does an LLC Cost In New Hampshire? Fees & Taxes in NH

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Last updated February 17, 2023

Written by Dmytro Kondratiev

Editor, lawyer

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Have you already looked into the process of how to start an LLC in New Hampshire and know all the steps you need to take? If so, it’s high time to consider LLC fees in New Hampshire before you go any further.

Knowing the costs on your plate, you’ll be able to plan your budget in a more efficient manner. In this article, you’ll find a detailed Hampshire LLC costs breakdown covering the essential formation and post-formation payments to ease your planning to the max.

How Much is an LLC in New Hampshire?

Limited liability companies entail certain costs, it’s not a secret. Unlike non-incorporated business forms, LLCs require state registration, hence, there will be certain state fees to pay. Besides, similar to limited liability company laws, those state fees vary by jurisdiction.

By and large, your LLC cost in New Hampshire will embrace

Formation expenses related to the legal entity registration in the state;
Post-formation expenses enlisting compulsory payments to keep your already registered entity compliant and legitimate.

In the meantime, we’ll split the LLC-associated costs into

Basic ones that are common for all companies;
Optional ones specific to certain business situations or referred to as added services.

Basic New Hampshire LLC Costs

Most of these are must-have expenses for all companies irrespective of their type. Note that some of those New Hampshire LLC fees are payable on a regular basis. So, let’s consider the charges that will make the core of your formation and maintenance costs in the state.

New Hampshire LLC Filing Fee: $100

One of the biggest LLC benefits is simple formation. Despite being a legal entity that requires filing, the company’s registration calls for only a few formalities to follow.

Thus, establishing an LLC in New Hampshire is as simple as filing a Certificate of Formation with the Secretary of State. You can file either onl ine or by mail. Though the filing fee is the same, online applications are prioritized due to the processing speed.

An LLC fee in New Hampshire is $100. Online filings are processed within 3 to 7 business days while mailed applications are approved within 3 to 5 weeks. And the state has no expedited processing service in place.

New Hampshire Registered Agent: $0 - $150

Since a registered agent is a compulsory LLC element, you can’t skip appointing one in New Hampshire. How much it will cost you will depend on which of the following agent options you choose for your newly formed company:

You can leave this function for yourself and do all the job on your own, especially if you start small and won’t have too intensive mail circulation;
Designating some of your trusted acquaintances is also an option if you need more time for business activities outside your registered address;
Some entrepreneurs choose their lawyers, business consultants, or accountants for this position since they have some sort of associated expertise;
Registered agent service is a choice for multiple LLCs ensuring not only professional agent assistance but also other related services.

In general, you can choose between yourself and third parties as your New Hampshire registered agent. Most likely than not, third-party assistance will come at a cost.

An optimal alternative for a hired agent is a professional service. One of the best registered agent services in New Hampshire will cost you anywhere from $50 to $150 for an annual subscription.

Annual Report Fee in New Hampshire: $100

Almost all US states have certain reporting requirements in place and require limited liability companies to file annual statements. Though covering basic company info, with no specific details, an annual statement is meant to keep your business data up-to-date.

New Hampshire calls for LLC annual reports as well. You should submit a report to the Secretary of State via the official NH Quick Start portal. The filing fee is $100 and the due date is before April,1.

Note that failure to file or late filing will impose a $50 penalty in New Hampshire.

Foreign LLC Cost in New Hampshire: $100

To make a company registered in any other state operable in New Hampshire, you should get a foreign qualification for it.

The whole process is pretty much like filing a domestic LLC and won’t take long. You should file an Application for Foreign LLC Registration (Form LLC-1) on the Secretary of State’s website. The filing fee is also $100 plus $2.00 for online form handling.

If you want to relocate your entity to New Hampshire, you can do it by adding submitting the Articles of Domestication along with Form LLC-1 and paying a $135 fee.

Professional LLC Cost in New Hampshire: $100 Plus Licensing Fees

Some US states require that specialists who are going to provide certain professional services under the umbrella of a legal entity should form a so-called professional LLC. New Hampshire is among those states.

This entity type formation is similar to that of a common LLC and will entail a $100 filing fee. The major difference is in the need to get a special professional license to run a PLLC. Issued to company members, it verifies their professional qualifications.

As a result, you’ll have to add the license cost to your business registration expenses. The state has licensing requirements for 50 professions. You can find a complete list and register for a license via the NH OPLC website.

Licensing Costs in New Hampshire: Variable Fees

Most likely than not, you will need some sort of license to lawfully operate your entity in New Hampshire. Depending on the type of LLC or activity you run, you might even need more than one permit.

New Hampshire doesn’t require LLCs to get a general business license at a state level, which is a must in many other jurisdictions. In addition to the above-mentioned professional license, your LLC might be exposed to permissive documents at other levels:

At an official NH BUsiness portal, you can find a full list of business licenses and permits applicable to LLCs in the state;
Most licensing requirements vary by locality. You can contact your local government to check for local permissive documents for your firm.

New Hampshire licensing fees also vary by locality and could range from $20 to $500 on average.

New Hampshire LLC Taxes

New Hampshire is one of the states that have specific tax requirements for businesses somewhat different from those you’d come across in other states:

LLCs taxed as disregarded entities are still exempt from income tax payments. Meanwhile, a personal tax rate for LLC members is pretty low at 5%;
Unlike many other jurisdictions, New Hampshire levies no sales tax for commercial activity;
Members of pass-through LLCs are considered self-employed and should pay a 15.3% self-employment tax;
Each newly registered company hiring employees should pay an NH new employee tax at a 2.7% rate. At the same time, there is no Withholding tax in place.

BPT Tax Rate in New Hampshire

The state charges Business Profit Tax (BPT) at a 7.6% rate over all businesses with a gross business profit of over $50.000. Notably, for the taxable periods ending on or after December 31, 2022, that limit will increase to $92.000.

BET Tax Rate in New Hampshire

Business Enterprise Tax (BET) is applied to the LLC value tax base embracing the sum of the compensation, interest, and dividends paid by the company. For taxable periods ending on or after December 31, 2022, the BET rate will be reduced from 0.75% to 0.55%.

All LLCs with gross receipts over $217.000 or LLC value tax base over $108.000 are exposed to this tax.

Other New Hampshire LLC Costs

All business scenarios and goals are different. And certain business situations or circumstances might bring added costs. Most of those charges are one-time payments, though, so you won’t have to budget them as regular business expenses.

Business Name Reservation Fee in New Hampshire: $15

The state provides businessmen-to-be to put their future entity’s name on hold for a period of 120 days. This option might be of great use if the desired LLC name is available, yet you are not ready to file and don’t want someone to snitch it from you.

To reserve a business name, file Form 1 with the Secretary of State and pay a reservation fee of $15.

Trade Name Registration in New Hampshire: $50

A good thing about LLCs is that you can launch multiple product lines, register multiple brands, and provide non-associated services under the same legal structure by simply registering different trade names.

A trade or DBA (doing business as) name is different from the entity’s registered or legal name. It makes marketing easier and expands your business growth opportunities.

A trade name requires state registration. Yet, the process is as easy as filing Form TN-1 with the state and paying a $50 fee per name version.

New Hampshire LLC Certificate of Good Standing: $7

When opening a bank account, establishing a factoring program, settling a credit line, or applying for a business loan, a financial institution will call for a Certificate of Good Standing for your company.

Issued by the Department of State, the document costs $7 when ordered online or $5 when ordered by mail.

New Hampshire Certified Document Copies: Fees Vary

If you need copies of your LLC documents verified by the state, you can order them from the Secretary of State:

Online by paying $5 per document plus $1 per page and get your papers back in 3 to 5 business days;
In person by paying $30 per document plus $1 per page and get your papers back the same day.

New Hampshire Certificate of Amendment: $35

To make changes in your basic company info provided in your formation documents, you should file a Certificate of Amendment with the state and pay a $35 fee. This way, you can legalize LLC name or address change and any changes in membership.

Note, though, that a registered agent is only changed via a separate Statement of Agent change that costs $15. Or you can do it for free within the Annual Report filing.

Certificate of Cancellation: $35

You might want to wind up your business activity and close your company. Whatever the reason, you need to legally dissolve your LLC to terminate its existence.

You should file an online Certificate of Cancellation with the Secretary of State via the NH Quick Start portal and pay a $35 fee. Note that to finalize the process, you should attach a tax statement from the Department of Revenue.

FAQ

Does establishing an LLC justify itself?

Though LLC registration is not free of charge, the benefits you’ll get compensate for the cost over and above.

The whole legal structure is meant to maintain and boost business growth and stability. Simple management, tax advantages, and liability protection are hard to underestimate.

How soon will a New Hampshire LLC be registered by the state?

Normal processing time in this state is 3 to 7 business days if you file online. Mail applications, though, will take a few weeks to review.

Does New Hampshire have business license requirements for LLCs?

New Hampshire doesn’t call for a general business license, yet, you will need some local permissive documents for sure. So, mind contacting your county clerk’s office.

Will my New Hampshire LLC have to pay an income tax?

Pass-through LLCs are free from state income tax payments. Yet, the state has BPT and BET requirements in place most LLCs will have to observe at some point.

Do I need to renew my New Hampshire LLC on an annual basis?

To keep your entity legitimate and compliant with the state, you will have to file an annual report which is quite generic by nature, yet, a must for all New Hampshire LLCs.

What is the cheapest way to start an LLC in New Hampshire?

While the easiest way to launch a limited liability company is by hiring a professional service, you’ll get a cheap LLC by doing the job on your own. Skip engaging third-party assistance to save some funds.

Will my New Hampshire LLC be entitled to tax refunds?

Only LLCs taxed as C-Corps under Form 8832 can receive tax rebates. Common LLCs are not open to tax refunds.

Will I be able to pay myself a salary from my New Hampshire LLC?

As a company owner or co-owner, you will receive all or part of its profit via income draw. Yet, LLCs taxed as corporations can hire their owners as employees and pay normal salaries to them.

Can I include my cell phone costs in my company expenses?

Cell phone costs are deductible from LLC if you use your personal phone for business over 50% of total use.

Can I deduct Internet costs from my New Hampshire LLC if I work from home?

Similar to phone expenses, you can write off your Internet expenses from LLC if the business use prevails (over 50%) and home use is minor.

Can I refer my personal car costs to my New Hampshire LLC expenses?

If you drive your own vehicle predominantly for business purposes, you can deduct the car costs proportionally to that use accordingly. You can even write off entire expenses if you use your car for business all the time.

Can my fuel costs be a part of my New Hampshire LLC expenses?

You can write off fuel receipts within general car costs or pro rata to mileage driven for business. The latter method is more complicated since you’ll have to account for “business” miles.