Starting a Business in New Hampshire: What Do You Need?
Share this
Getting ready to start a new business in New Hampshire? New or soo
n-to-be business owners need to understand what steps are required before opening a new business in New Hampshire.
Potential employers should also understand what resources and services can make life easier for a business owner, especially those just starting out with limited resources and manpower.
Here is everything you need to know about starting a business in New Hampshire.
How to Start a Business in New Hampshire
Starting a business in New Hampshire consists of several steps and requirements, including:
- Choose a name and business entity type
- Registering with the NH Secretary of State's Office
- Apply for and obtain any required permits or licenses
- Submit the required forms to the NH Department of Employment Security
- Obtain required insurance
- Ensure payroll and human resources software, services, and / or processes are in place
It is also a good idea to see what potential small business tax credits may be available to your business, as such credits can help you grow faster.
Choosing a Name and Business Entity in New Hampshire
Choosing a name for your new business may seem extremely straightforward. However, in reality, it is a complicated process. Getting yourself into the creative mindset to brainstorm a unique, catchy, and memorable business name is tough enough on its own. Once you have a name in mind, however, what you do next depends on the business entity you choose.
There are four types of business entities in New Hampshire:
- Sole proprietorship
- Partnership
- LLC
- Corporation
How to Set up a Sole Proprietorship in New Hampshire
A sole proprietorship is a business entity in which one person (the business owner) operates the business. There is no distinction between the business and the business owner.
Luckily, those looking to set up a sole proprietorship in New Hampshire don't need to file any organizational documents with the state. However, in order to choose a name the business owner must file a Trade Name Registration with the New Hampshire Secretary of State (SOS) if they use a business name that is different from the name of the business owner.
How to Set up a Partnership in New Hampshire
A partnership is a business entity where two or more people own the business together and share responsibilities, risks, and benefits. It is similar to a sole proprietorship but with more people involved.
Unless forming a limited liability partnership, you don't need to file any organizational documents with the state. To form a limited liability partnership, you must file a registration with the New Hampshire SOS. It is also recommended, though not required, that you develop a written partnership agreement to avoid and dissolve disputes.
In order to choose a name, partnerships must also file a Trade Name Registration with the New Hampshire SOS if they use a business name that is different from the names of the individual partners.
How to Set up an LLC in New Hampshire
An LLC (Limited Liability Company) is a business entity and the United States-specific form of a private limited company. LLCs can combine the pass-through taxation of a partnership or sole proprietorship, with the limited liability of a corporation.
To create an LLC in New Hampshire, you need to file a certificate of formation with the New Hampshire SOS. A registered agent in New Hampshire must also be appointed for service of process. It is also recommended, though not required, that you develop an operating agreement to establish the basic rules about how your LLC will operate.
In order to choose a name, you will need to choose a name that is distinguishable from the names of other business entities already on file with the New Hampshire (SOS). You can search for available business names by using the SOS's business entity search tool. Names can be reserved for up to 120 days by filing an Application for Reservation of Name with the SOS.
LLCs must also include "L.L.C." in the name of their business.
How to Set up a Corporation in New Hampshire
A corporation is an organization authorized by the state to act as a single entity and recognized as such in law for certain purposes.
To create a corporation in New Hampshire, you must file articles of incorporation with the New Hampshire SOS. A registered agent in New Hampshire must also be appointed for service of process. It is also recommended, though not required, that you develop and prepare bylaws to establish your corporation's internal operating rules. S Corporations must also file IRS Form 2553.
In order to choose a name, you will need to choose a name that is distinguishable from the names of other business entities already on file with the New Hampshire (SOS). You can search for available business names by using the SOS's business entity search tool. Names can be reserved for up to 120 days by filing an Application for Reservation of Name with the SOS.
Corporations must also include "Corporation" in the name of their business.
Registering with the NH Secretary of State's Office
In order to operate a business in New Hampshire, you must register said business with the Secretary of State's Office. Certain business entities have additional registration requirements, detailed above.
In addition to the above requirements for each business entity type, you may need to apply for a tax operator's license (see below).
Apply For and Obtain Any Required Permits or Licenses
First and foremost, all businesses with employees, as well as businesses that are taxed separately from you, must obtain a federal Employer Identification Number (EIN) from the IRS. It is recommended, however, that all businesses obtain an EIN as banks often require an EIN to open an account in the business's name and other companies you do business with may require an EIN to process payments.
Other required permits or licenses can depend on a variety of things, such as the nature of the business. Employers can find all information on required licenses and permits on the New Hampshire Business Information page.
Meals and Rooms (Rentals) License
For New Hampshire restaurants, grocery stores, bakeries, hotels, lodging establishments, and motor vehicle rental establishments, a Meals and Rooms (Rentals) License must be obtained to collect and remit taxes on meals, rooms, and motor vehicle rental services.
Tobacco Tax Operator's License
For New Hampshire establishments intending to sell tobacco products, a Tobacco Tax Operator's License must be obtained.
Communications Services Retailer's Tax License
Communications service retailers must obtain a Communications Services Retailer's Tax License in order to collect and remit Communications Services Taxes.
Food Service Health Licenses
Food Service Health Licenses may be obtained from the New Hampshire Department of Health & Human Services. You may contact them directly at (603) 271-4583 for more information.
Other Permits & Licenses
New businesses should contact their local city or town clerk's office for any local / municipal permits and licenses. Those who operate a business, or engage in a trade or an occupation that is subject to state or local regulation, may be required to apply for a specific operator's permit and license. Regulated businesses may be subjected to certification, registration, or accreditation.
Depending on the nature of your business and the employees you need to hire, you may also need professional and occupational licenses for said workers. You can get information about the state agencies that license and regulate many professions and occupations by going to the Licensed, Certified and Registered Occupations Index.
NH Department of Employment Security Requirements
All businesses with employees in the State of New Hampshire must file an Employer Status Report with the NH Department of Employment Security within 30 days of first providing employment. This is used to register for state unemployment insurance tax purposes.
Businesses must also register for new hire reporting in New Hampshire with the Department of Employment Security.
Lastly, businesses must file, quarterly, a Wage and Tax Report regardless of tax liability.
Obtain Required Insurance
New Hampshire businesses are required to offer workers' compensation insurance coverage for employees in case of accidental injury or death. Employers must apply for and obtain coverage before hiring any employees.
New business owners who are looking for workers' compensation insurance should reach out to a New Hampshire Payroll Company for help finding coverage.
Find a New Hampshire Payroll and HR Company
In order to begin processing payroll in New Hampshire, businesses should make sure that they have the proper processes in place to accurately process payroll, maintain compliance with things such as New Hampshire Minimum Wage, as well as handle any HR issues that come up.
However, as a new business owner, you likely either don't have the time to handle these things manually, and likely don't have the manpower, or money to hire the manpower, to take care of those things internally. That's where a New Hampshire Payroll Company can help.
To learn more about the payroll software and payroll tax filing services available from Trivantus, contact us today or take a look at our payroll demo video recording. Trivantus also offers HR software and services.
Now you have everything you need to start your new business in New Hampshire successfully.
- August 2024 (2)
- July 2024 (3)
- June 2024 (3)
- May 2024 (1)
- March 2024 (10)
- February 2024 (3)
- January 2024 (1)
- December 2023 (2)
- November 2023 (1)
- October 2023 (2)
- September 2023 (2)
- May 2023 (2)
- April 2023 (2)
- March 2023 (2)
- February 2023 (2)
- January 2023 (1)
- December 2022 (1)
- November 2022 (1)
- October 2022 (2)
- August 2022 (2)
- July 2022 (2)
- June 2022 (3)
- May 2022 (1)
- April 2022 (2)
- March 2022 (2)
- February 2022 (1)
- January 2022 (2)
- December 2021 (2)
- November 2021 (2)
- October 2021 (2)
- September 2021 (2)
- August 2021 (2)
- July 2021 (2)
- June 2021 (1)
- May 2021 (2)
- April 2021 (2)
- March 2021 (2)
- February 2021 (2)
- January 2021 (2)
- December 2020 (2)
- November 2020 (2)
- October 2020 (2)
- September 2020 (2)
- August 2020 (2)
- July 2020 (1)
- June 2020 (2)
- May 2020 (2)
- April 2020 (2)
- March 2020 (1)
- February 2020 (1)
- January 2020 (2)
- December 2019 (2)
- November 2019 (2)
- October 2019 (2)
- September 2019 (2)
- August 2019 (2)
- July 2019 (1)
- June 2019 (2)
- April 2019 (2)
- March 2019 (2)
- February 2019 (2)
- January 2019 (2)
- December 2018 (2)
- November 2018 (2)
- October 2018 (2)
- September 2018 (2)
- August 2018 (1)
- July 2018 (2)
- June 2018 (2)
- May 2018 (1)
- April 2018 (1)
Subscribe by email
You May Also Like
These Related Stories
![New Hampshire Payroll Laws](https://www.trivantus.com/hubfs/Graphics%2c%20Designs%2c%20and%20Logos/Stock%20Images%20%28MAD%29/AdobeStock_549820698.jpeg)
New Hampshire Payroll Laws and Processing: What Companies Should Know
![NH Minimum Wage](https://www.trivantus.com/hubfs/Graphics%2c%20Designs%2c%20and%20Logos/Stock%20Images%20%28MAD%29/AdobeStock_665802578.jpeg)
New Hampshire Minimum Wage 2024
![New Hampshire Pay Frequency](https://www.trivantus.com/hubfs/Signing%20beside%20a%20stack%20of%20papers..jpeg)