When it comes to an LLC, New Hampshire does its best to make it easy to create and operate. But there are still rules and regulations that have to be followed, in order to ensure that any business is operated legally and safely. For anyone planning to start up an LLC in New Hampshire, it is important to understand what goes into making it a legal entity, and then what has to be done later on to ensure that it continues to operate the right way.

Getting Started

Naming an LLC in New Hampshire

Every company needs a name, and when an LLC is going to be created in New Hampshire, one of the most important considerations is whether another company already has the desired name. If that’s the case, naturally, that’s a problem for the new company. Picking a different name may be required, but companies can search online to see if a name is available. They may also want to check and see if the domain name is available, since most companies want to have a website address that matches their company name. The LLC must also file additional paperwork if they want to use a restricted word, and they have to have Limited Liability Company, L.L.C., or LLC in the name. There are some words that are only used for federal or state agencies, as well, and that are prohibited from use by other companies.

Selecting a Registered/Statutory Agent

Every LLC should have a registered agent, and may find themselves not in good standing with the state if they fail to designate one. Additionally, there are specific requirements about who can be a registered agent, which is someone authorized to accept official correspondence on behalf of the LLC. In New Hampshire, a registered agent has to be someone who is a resident of the state or a corporation authorized to do business in that state. No one else will qualify, so an LLC must be careful when naming a registered agent.

 

Filing Articles of Organization

An LLC can file its Articles of Organization online, for a fee of $100. This fee is non-refundable, so it is recommended that the LLC be prepared and have everything needed for the filing. If there are mistakes or changes, re-filing may be necessary. The Articles of Organization are required for any LLC in the state of New Hampshire.

Creating an Operating Agreement

Like most states today, New Hampshire does not require an LLC to have an operating agreement for formation. Many states in the past required these, but changes to rules and regulations regarding how an LLC operates have allowed these types of agreements to go by the wayside in New Hampshire and many other locations.

Running Your Business

Getting Your EIN

What’s an EIN?

An EIN is an employee identification number, issued by the Internal Revenue service. Sometimes it is also called a Federal Tax Identification Number. It’s a unique number issued to each business.

You’ll need an EIN to

  1. Open a business bank account.
  2. File Federal and State Taxes
  3. Hire employees.

Before you get your EIN:

  1. Make sure your new business has been properly formed before applying.
  2. Be wary of paid sites. EINs are free direct from the IRS.

How do I get an EIN?

  1. Apply online: The easiest way is to apply online for an EIN. Note, the IRS website has office hours, and is only available Monday through Friday, 7am to 10pm. Yes, we also agree this is one of the most ridiculous things we’ve ever seen.
  2. Call: You can call 1-800-829-4933, between 7am to 7pm of your time zone, Monday to Friday.
  3. Snail Mail – You can download the form and mail it in.

Keep Business and Personal Accounts Separate

  1. Get a business bank account for your business. This will help you protect your personal assets from potential creditors and lawsuits, and will also make life A LOT easier come tax time.
  2. Get a business credit or debit card. This will help you keep your expenses separate and easier to track.

Accounting

No matter what business you run, accounting software and processes is a must for any small business. If you have an accountant, ask them which software they work with and recommend.

A good accounting system is necessary to:

  1. Track income and expenses, so you can easily see if you’re making money
  2. Makes filing income taxes so much easier.

Always try and find something that will:

  1. Sync with all of your bank and credit card accounts automatically – not just downloads, but auto sync.
  2. Automatch vendors, customers and other accounts.
  3. Let you accept credit cards and ach drafts with ease.

Unemployment

Unemployment insurance tax is required for any LLC that has employees in the state, and the LLC must also file for any applicable city, state, or federal permits needed for the type of business it operates.

Getting Insurance for your LLC

Workers’ Compensation insurance is required. While other types of insurance may be selected and chosen by a company that wants to carefully protect itself, no other types of insurance are strictly required by the state in order to successfully own and operate an LLC. Not every LLC will want or need any additional insurance, but some types of business carry more risk than others.

Keeping Your LLC Compliant

Compliance is one of the biggest issues for any LLC. To be compliant with the state of New Hampshire, an LLC must file an annual report with the Secretary of State. This is due on April 1st every year, can be filed online, and costs $100. A Certificate of Good Standing is also available, but cannot be requested online. Instead, the LLC will need to write a letter to the New Hampshire Department of State or request the certificate in person. Additionally, LLCs that want to stay in compliance must be sure that their employees are legal to work in the US, must report them to the state as new hires, and must provide them with compliance posters, increments, workers’ compensation insurance, and the withholding of income tax.

How to File a Foreign LLC in New Hampshire

Foreign LLCs are allowed in New Hampshire. They can file online, and the fee to do so is $100. All of the requirements and instructions for how to qualify are available at the time of filing.