New Hampshire S Corp Formation

New Hampshire S Corporation Formation

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Steven S.

Steven Stark

300 reviews
For over 30 years, Steven Stark has offered counsel to non-profit organizations and private companies. He has a passion for helping small businesses in particular since he himself started several businesses of his own in New York and Florida. He understands the importance of small businesses having a reliable attorney to advise them about legal matters from their inception.
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Joshua G.

Joshua Garber

213 reviews
Representing notable clients like Tesla and the City of Los Angeles, Josh Garber excels at helping clients with employment and labor laws. Many of his past clients have had great success using Josh for employment agreements and Division of Labor Standards Enforcement (DLSE) hearings. With his practical advice, he has even helped clients avoid going to court.
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Richard G.

Richard Gora

159 reviews
Looking for an attorney with experience? Richard Gora is the exact attorney you want. Having defended over 100 cases both in state and federal courts and working with clients from around the globe, Richard has an array of different experiences. His services are wide-ranging and include business litigation, securities litigations, employment litigation, and business counsel. Prior to founding Gora LLC, he worked for Finn, Dixon & Herling LLP for eight years.
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Ripal P.

Ripal Patel

Ripal provides legal counsel to clients in startup formation, contracts, negotiations, compliance law, trademarks, and copyrights. He has successfully worked with many startups in addition to beginning his own startup in 2007. Ripal chooses to only practice in the areas of law that he is passionate about and providing the best possible service for his clients.
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Jeremy S.

Jeremy Saks

2 reviews
Jeremy Saks is a business attorney who has been serving corporate clients for one and a half decade. He is licensed to practice law in New York and obtained his legal degree after graduating from the New York University School of Law. Jeremy primarily specializes in drafting, reviewing and negotiating commercial contracts. He is also skilled in dealing with legal matters that involve labor and employment law. Jeremy founded Saks & Li, LLP, in March 2018.
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Bradon C.

Bradon Connor

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Simran S.

Simran Singh

1 review
Beginning her practice in corporate law, Simran Singh has since expanded into estate planning, Chapters 7 and 13 bankruptcy, and small business law. She has experience handling all aspects of corporate formation, securities regulations, wills, living trusts, guardianships, powers of attorney, advance health care directives, and deed transfers for California properties.
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Jay S.

Jay Silverberg

2 reviews
If your business needs an experienced attorney, you need Jay Silverberg. Mr. Silverberg works on various business legal matters including both transactional and insolvency issues. Contracts and business transactions are his specialties. Bankruptcy is an area of the law that many attorneys shy away from, but not Mr. Silverberg. He can help you consider all of your viable options regarding debt or insolvency.
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Laura G.

Laura Greene

2 reviews
Laura Greene is an attorney at law with six years of experience. She is licensed to practice law in both North Carolina and Tennessee. Laura has a J.D. in law, which she obtained from the University of Toledo. Laura is exceptionally experienced in tax law, but also focuses on legal matters that involves labor and employment law. She is also skilled in dealing with commercial contracts. Laura founded her own law office in December 2017.
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Steven B.

Steven Berger

Steven Berger specializes in probate, wills and trusts. He assists business owners in order to ensure their assets are dealt with accordingly at all times. He is licensed to practice law in Maryland and received his Juris Doctor from the University of Maryland Francis King Carey school of Law. Steven is a member of the Maryland State Bar and the WealthCounsel Associations. He is currently the owner of his own law firm, but has also worked as a counselor at the Duvall Law Firm.
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Why use UpCounsel to hire a New Hampshire S Corporation Formation Attorney?

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Why use UpCounsel to form an S Corporation in New Hampshire

Starting an S Corporation in New Hampshire with a business startup attorney on UpCounsel is easy, informative, and cost-effective. In just three simple steps, our S Corporation attorneys will help you protect your business and personal assets, and help you organize your business for state and federal compliance for an S Corporation.

When forming an S Corporation in New Hampshire with UpCounsel, the attorney you choose to help you will conduct a business name search for your New Hampshire S Corporation and assist you in preparing your S Corporation Operating Agreement, along with providing other legal services based on your needs. Once your Articles of Incorporation have been prepared and successfully filed with the New Hampshire Secretary of State Corporate Division, your New Hampshire S Corporation has been formed and begins its existence as a corporate entity.

However, a corporation does not register as an S Corporation with the Secretary of State. It registers as a corporation with the state and then may file for S Corporation status with the IRS. S Corporation status is a taxation category which provides income tax advantages to small businesses.

Choosing a Company Name for Your S Corporation

One of the first steps in the process of forming your S Corporation is to choose your business name.

The business name that you choose must contain the words "incorporated", "corporation", "limited", or "company", or an abbreviation of these words. The name may not indicate or imply that the corporation is organized for a purpose other than one permitted by state law or its articles of incorporation. It must be distinguishable (not the same as or deceptively similar to) the name of an S Corp or foreign S Corporation reserved or registered.

Your S Corporation name may contain the name of one or more members.

By using UpCounsel, you can choose several business names in order of preference. Your attorney of choice can then conduct a name check for your New Hampshire S Corp before filing to see which names are available. Once you have chosen an available name, your chosen S Corporation attorney can help you properly register your name with the State of New Hampshire.

Requirements for Forming a New Hampshire S Corporation

Articles of Incorporation: When forming an S Corporation in New Hampshire, the Articles of Incorporation must be filed with the New Hampshire Secretary of State. New Hampshire state law requires that certain information be included in your Articles of Incorporation when forming your New Hampshire S Corporation.

This information must include:

  1. The S Corporation name and address.
  2. The name and address of the registered agent for service of process on the S Corporation.
  3. The number of shares, and their class, that the S Corporation is authorized to issue.
  4. The name and addresses of each of the incorporators.

Form SRA: A New Hampshire S Corporation must also file an addendum called Form SRA with the Certificate of Formation. It must contain a statement acknowledging that the S Corporation has complied with New Hampshire's securities laws.

Additionally, a New Hampshire S Corporation formation generally requires inclusion and/or consideration of the following:

S Corporation Qualification Requirements: For a corporation to qualify as a S Corporation for tax purposes, it must meet the following requirements:

  1. Must be a domestic corporation.
  2. Have only allowable shareholders including individual, certain trusts, and estates; and may not include partnerships, corporations or non-resident shareholders.
  3. Have only one class of stock
  4. Have no more than 100 shareholders
  5. Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).

Additionally, a New Hampshire S Corporation formation generally requires inclusion and/or consideration of the following:

S Corporation Operating Agreement: Although the S Corporation Operating Agreement is not required with the Articles of Incorporation, it is a good idea for every S Corporation with more than one member to have one. The Articles of Incorporation may contain restrictions or prohibitions on the power of the members to adopt, amend, or repeal an operating agreement. If there is more than one member, any operating agreement shall initially be agreed to, in writing, by all of the members. If you do choose to adopt an operating agreement, it does not have to be filed with the Secretary of State, but should be kept on file by the registered agent.

Membership: A S Corporation must have one or more members.

Eligibility Requirements: A natural person or an entity.

Procedure for Membership: The member may acquire an interest in the S Corporation directly from the S Corporation at the time of formation and, after formation, at the time provided in and upon compliance with the Articles of Incorporation or the operating agreement or, if not provided, only upon the vote of a majority in interest of the S Corporation members, excluding the vote of the person acquiring the membership interest, and only when the person becomes a party to the S-Corp's operating agreement.

Business Licenses: Business licenses and/or permits are required for most S-Corp's offering specific professional services. Contact the New Hampshire State Corporations Commission for specific licenses.

Resident Agent needed for a New Hampshire S Corporation

Remember every New Hampshire S Corporation must have a registered agent in New Hampshire, which is the person or office designated to receive official state correspondence and notice if the company is "served" with a lawsuit. The statutory agent may be a New Hampshire resident or business entity (corporation, LLC, or limited liability partnership) authorized to do business in the state. However, the registered agent must have a physical New Hampshire street address.

New Hampshire Secretary of State

Once you create an S Corporation in New Hampshire, the New Hampshire Secretary of State will require that certain recurring responsibilities and duties be fulfilled. The most important of these are explained below.

For further information, contact the New Hampshire Secretary of State.

Recurring Responsibilities and Duties for New Hampshire S Corporations

Periodic Report: Each S Corporation shall provide a periodic report to the New Hampshire Secretary of State regarding its financial condition to each of its members. Your registered agent will be mailed a reminder prior to when your periodic report is due. If your periodic report is not filed on time, your S Corporation could face fines. The periodic report must be filed online at the Secretary of State's website.

Records: Each New Hampshire S Corporation must keep the following records open to inspection at its office:

  1. A current list of the full name and last known business or residence address of each member and of each holder of an economic interest in the S Corporation set forth in alphabetical order, together with the contribution and the share in profits and losses of each member and holder of an economic interest.
  2. If the S Corporation is manager-managed, you will need a current list including the full name and business or residence address of each manager.
  3. A copy of the Articles of Incorporation and all amendments thereto, together with any powers of attorney pursuant to which the Articles of Incorporation or any amendments thereto were executed.
  4. Copies of the S-Corp's federal, state, and local income tax or information returns and reports, if any, for the six most recent taxable years
  5. A copy of the S-Corp's Operating Agreement, if in writing, and any amendments thereto, together with any powers of attorney pursuant to which any written operating agreement or any amendments thereto were executed.
  6. Copies of the S-Corp's financial statements, if any, for the six most recent fiscal years.
  7. The books and records of internal affairs as they relate to the S Corporation for at least the current and past four fiscal years.
  8. A signed "Incorporator's Statement" showing the names and addresses of the initial directors who will serve on the board until the first annual meeting of shareholders.

Filing Fees for a New Hampshire S Corporation

The processing fee for the Ar and the Form SRA addendum is generally about $100. Also, the filing and reservation of the S-Corp's name is $15. These fees can change so it would be best to check with the New Hampshire Secretary of State on what the latest fees are. You may pay these fees in many different forms including cash, check, money orders, or debit and credit cards.

Taxes for a New Hampshire S Corporation

A New Hampshire S Corporation is a special type of corporation created through an IRS tax election. An eligible corporation can avoid double taxation (once to the corporation and again to the shareholders) by a corporation with a Subchapter S designation by the IRS. A corporation must file a Form 2553 to elect "S" status within two months and 15 days after the beginning of the tax year.

Owners of the S Corporation report business losses or profits on their personal tax returns, and therefore the business itself is not taxed. Each shareholder is responsible for paying taxes on their pro rata share of the S corporation's items of income, deductions, and credits (through a Schedule K-1 form).

New Hampshire does not recognize the federal S Corporation election and does not require a state-level S Corporation election. You can still have an S Corporation in New Hampshire. The S Corporation will only be an S corporation for federal tax purposes and not for state tax purposes. For state purposes, the corporation will be treated as a regular C corporation.

Federal Income Tax: An S Corporation does not pay federal income tax.

New Hampshire State Income Tax: New Hampshire does not impose an income tax on businesses.

Federal Tax Identification Number: Your corporation will need to obtain a federal tax identification number, which is also known as an Employment Identification Number (EIN). You do not need to get a new EIN after the corporation choose to become a S Corporation. An EIN is similar to an individual's social security number. You will need an EIN for your S Corporation as long as there is one member, even if the S Corporation does not have employees. For certain tax filing requirements the attorney you choose on UpCounsel can help prepare your Federal Tax ID Application, if you have not done so already.

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