
Perhaps you are hoping to form an NH LLC. People assume that starting an LLC is difficult and costly. However, it’s generally not difficult, and the cost would vary across states. We have all the info you need to know about the cost of forming an LLC, particularly the LLC cost in New Hampshire.
New Hampshire LLC Cost of Filing
Here are the costs involved in forming an LLC in New Hampshire.
Cost of Filing Formation Certificates
The New Hampshire Certificate of Formation is responsible for the majority of the cost, which could also vary depending on whether you’re forming a domestic LLC or a foreign LLC. Still, you can file both at the New Hampshire Secretary of State.
New Hampshire Domestic LLC
- Online Filing costs $150.
- Annual Report filing costs $100
- Name Reservation fee costs $15
- By Mail: Fill out the application form, and send it to Corporation Division, NH Dept. of State, 107 N Main St, Rm 204, Concord, NH 03301-4989. Costs $150.
New Hampshire Foreign LLC
- Online Filing costs $150.
- Annual Report filing costs $100
- Name Reservation fee costs $15
- By Mail: Fill out the application form, and send it to Corporation Division, NH Dept. of State, 107 N Main St, Rm 204, Concord, NH 03301-4989. Costs $150.
Note that filing online is ideal, not only because you need to go to the Secretary of State office, but also it would be faster. You won’t have to wait in a queue in doing so.
New Hampshire LLC Formation Service or Registered Agent Fee
You need a registered agent to form an LLC in New Hampshire, hence, added costs for service fees. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.
Business Permits and Licenses
The business licenses depend on your business’s activity and location and are renewed yearly. As such, the cost will vary. Check the New Hampshire Department of Revenue for regulatory boards or agencies requiring licensing.
Taxes Payable to New Hampshire Department of Revenue
The registration of the LLC in Hampshire is possible by following a simple step-by-step procedure. You can file for your LLC by mail as well as online.
The business taxes that An LLC has to pay in New Hampshire are:
State Income Tax
State Income tax is levied on all the income you make from your LLC, & your earnings are taxed through your personal tax return. The standard income tax rate in New Hampshire is 5%. One can apply for all the standard allowances and deductions while filing the Income Tax Return.
State Sales & Use Tax
There are five states in the USA which do not levy sales & use tax. New Hampshire is one of them, which means while filing for your LLC, you don’t have to pay sales & use tax.
Federal Self-Employment Tax
Federal Self Employment Tax or Social Security or Medicare tax has to be paid by all the LLC members. The Federal self-employment tax rate in New Hampshire is 15.3 percent.
Federal Income Tax
Similar to the State Income Tax, the Federal Income Tax also depends upon your earnings, the income tax bracket your LLC falls, the deductions, & the manner/ mode of filing.
The Federal Income Tax is levied on all the profits your LLC makes after all the deductions & allowances, such as Healthcare or Retirement Plans, are calculated.
Employee & Employer Taxes
An LLC that has many employees working under it has to pay Employee-Employer taxes. Such tax can be calculated on the basis of various factors, e.g., the amount, number of employees, etc.
Cost Comparison between states
New Hampshire has many neighboring states, namely Maine, Massachusetts, Vermont, etc. Let us take a look at the different rates of taxes levied on LLCs in this comparative chart.
States | Filing Fee | Annual/Biennial Fee | Sales Tax |
New Hampshire | $100 | $100 | None |
Maine | $250 | $60 | 5.5% |
Massachusetts | $520 | $500 | 6.25 |
Vermont | $100 | $15 | 6% |
In addition to the taxes listed above, there can be many other taxes or costs charged on an LLC in your region. Kindly consult with a finance professional in your region to verify the tax rates or business costs of registering an LLC in New Hampshire.
Other Costs
- New Hampshire Name Reservation: $15for online fillings or by mail
- Doing Business As (DBA): $50 for online filling or if filing by mail
- Certified Document Copies: $1 per page.
- Certified of Good Standing: $5
- Business Domain Name and Website: depend on your preference, but domain name could be as low as $2.99/yr at NameCheap, and web hosting is at least $30/mo at Kinsta.
- Online workspace: at least $4.20/mo for GSuite.
- Business Insurance: would vary depending on insurance type–whether general liability insurance or professional liability insurance–and coverage.
- Dissolution of New Hampshire LLC: $35
F.A.Qs
It is possible to form an LLC without professional help, but forms still have associated costs, regardless of where your LLC is formed.
It is difficult to say whether forming an LLC is expensive. Nevertheless, the cost could be anywhere from $40 to $500. If you refuse to hire professionals, you’ll still have expenses like form fees to cover.
The need to separate personal money from business funds, thus necessitating the creation of a business bank account for your LLC.
How Much Does It Cost to Maintain an LLC in New Hampshire
To maintain an LLC in New Hampshire you will need to pay an annual fee of $100 along with income tax at 5% and federal taxes.
There are several costs associated with maintaining an LLC in New Hampshire that business owners need to consider. The first of these is the initial filing fee required to register the LLC with the state. This fee can vary depending on the state and can change over time, so it is essential to research and stay updated on the current filing fee requirements in New Hampshire.
Additionally, New Hampshire requires LLCs to file an annual report with the Secretary of State and pay a fee to keep the company in good standing. This report typically includes information about the LLC’s members and managers and its business activities. Failure to file the annual report can result in penalties and even the dissolution of the LLC, so it is crucial for business owners to meet these requirements on time.
Another cost to consider is the fees for obtaining any necessary licenses and permits to conduct business in New Hampshire. Depending on the type of business and industry, there may be different licensing requirements that can come with associated fees.
Furthermore, LLCs in New Hampshire may also need to consider the costs of professional services, such as legal and accounting fees. It is often recommended for LLCs to consult with a lawyer and an accountant to ensure compliance with state regulations and tax laws, which can incur additional costs.
Moreover, New Hampshire imposes a Business Enterprise Tax (BET) and a Business Profits Tax (BPT) on businesses operating in the state, including LLCs. Business owners must ensure they understand these tax requirements and factor them into their financial planning to avoid penalties and maintain compliance.
Beyond these standard costs, there may be additional expenses for LLCs in special circumstances, such as changes to the company’s structure, mergers, or acquisitions. It is essential for business owners to be prepared for unexpected costs that may arise over time.
In conclusion, the costs of maintaining an LLC in New Hampshire can vary depending on various factors, including the size and industry of the business. Business owners must carefully plan and budget for these expenses to ensure the continued success and compliance of their LLC. By understanding the financial commitments involved in maintaining an LLC, business owners can avoid surprises and maintain the stability of their businesses for the long term.
In Conclusion
The cost of New Hampshire is much lower compared to other forms of business. Apart from the state filing fees and annual taxes, you might bear the cost of the registered agent. Compare the price of professional LLC services and choose the most affordable one.