New Hampshire (United States of America)

According to the New Hampshire Constitution, New Hampshire Branches of Government consists of three branches: The executive, the legislative, and the judicial.

• The executive branch includes the Governor of New Hampshire and elected and appointed officials. The branch is responsible to administer and enforce the laws of New Hampshire.
• The legislative branch is composed of the Assembly and the Senate. The New Hampshire legislative branch is responsible to enact legislation, vote, confirm or reject the state laws and draft legislation.
• The judicial branch consists of the New Hampshire Supreme Court and all the lower courts in the state and is responsible to interpret the meaning of laws and apply the law at the state or local level.

New Hampshire is the 8th (2018) richest state for household income in the United States. The majority of industrial output machinery, electric equipment, rubber and plastic products, and tourism is a major component of the economy.

The state has no general sales tax and no personal state income tax. The state's attractiveness as a corporate haven is largely because of its business-friendly corporation law.

Currency:

United States Dollar (USD)

Exchange Control:

New Hampshire does not separately impose exchange control or currency regulations.

Financial services industry:

The financial services industry has become a key component of New Hampshire's economic strength and growth. The state has been home to many banks and financial services companies for years due to tax regulation on interest rates.

Because of its friendly business climate, many companies that you would not associate with New Hampshire are incorporated in the state.

The corporate law of New Hampshire are user-friendly and often adopted by other states as a standard for testing corporate law. As a result, the corporate law of New Hampshire are familiar to many lawyers both in the US and internationally. New Hampshire has a common law system

Type of Company/Corporation:

One IBC supply incorporation in New Hampshire service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.

More than a million corporations have been incorporated in New Hampshire and lots of U.S. publicly-traded companies. Businesses choose New Hampshire because it provides modern and flexible corporate law and a business-friendly State Government.

Business Restriction:

The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.

Company Name Restriction:

The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";

• May contain the name of a member or manager;
• Must be such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any corporation, partnership, limited partnership, statutory trust or limited liability company reserved, registered, formed or organized under the laws of the State of New Hampshire or qualified to do business.
• May contain the following words: "Company," "Association," "Club," "Foundation," "Fund," "Institute," "Society," "Union," "Syndicate," "Limited" or "Trust" (or abbreviations of like import).

Company Information privacy:

No public register of company officers.

Just 4 simple steps are given to start a business in New Hampshire:

• Step 1: Select basic Resident/Founder nationality information and other additional services that you want (if any).
• Step 2: Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
• Step 3: Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
• Step 4: You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in New Hampshire is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support service.

* These documents required to incorporate a company in New Hampshire:

• Passport of each shareholder/beneficial owner and director;
• Proof of residential address of each director and shareholder (Must be in English or certified translation version);
• The proposed company names;
• The issued share capital and par value of shares.

Read more:

How to start a business in New Hampshire, USA

Share Capital:

There is no minimum or a maximum number of authorized shares since New Hampshire incorporation fees are not based on the share structure.

Director:

Only one director required

Shareholder:

Minimum number of shareholders is one

New Hampshire company taxation:

Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.

• Us Federal Taxation: US Limited Liability companies structured for partnership tax treatment with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return.
• State Taxation: US limited liability companies that conduct no business in the recommended states of formation with non-resident members are generally not subject to state income tax and are not required to file a state income tax return

Financial statement

Local Agent:

New Hampshire law requires that every business have Registered Agent in the State of New Hampshire who may be either an individual resident or business that is authorized to do business in the State of New Hampshire

Double Taxation Agreements:

New Hampshire, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimized by providing credits against New Hampshire taxation for taxes paid in other states.

In the case of corporate taxpayers, double taxation is minimized through allocation and appointment rules related to the income of corporations engaged in multi-state business.

License Fee & Levy:

The New Hampshire Franchise Tax Board requires all new LLC companies, S-corporations, C-corporations that is incorporated, registered or doing business in New Hampshire must pay the $800 minimum franchise tax

Read more:

• New Hampshire trademark
• New Hampshire business license

Payment, Company return due date

All LLC companies, corporations are required to update their records, either annually or biannually, based on the year of registration and pay the $800 Annual Franchise Tax every year.

• Corporations:

A Statement of Information must be filed with the New Hampshire Secretary of State within 90 days after filing the Articles of Incorporation and each year thereafter during the applicable filing period. The applicable filing period is the calendar month in which the Articles of Incorporation were filed and the immediately preceding five calendar months

Most corporations must pay a minimum tax of $800 to the New Hampshire Franchise Tax Board each year. New Hampshire Corporation Franchise or Income Tax Return is due on the 15th day of the 4th month after the close of the corporation’s tax year. New Hampshire S Corporation Franchise or Income Tax Return is due on the 15th day of the 3rd month after the close of the corporation’s tax year.

• Limited Liability Company

Limited liability companies must file a complete Statement of Information within the first 90 days of registering with the SOS, and every 2 years thereafter before the end of the calendar month of the original registration date.

Once your limited liability company is registered with the SOS it is an active business. You are required to pay the minimum annual tax of $800 and file a tax return with FTB for each taxable year even if you are not conducting business or have no income. You have until the 15th day of the 4th month from the date you file with the SOS to pay your first-year annual tax.