Why Form a Limited Liability Company (LLC)?

$0 + state fee & first year free Registered Agent.

The Business Taxes Payable by Your New Hampshire LLC

Business taxes are a fact of life, and your NH LLC will need to pay a variety of taxes to both the federal and New Hampshire governments. We’ll cover all the main taxes in New Hampshire, including self-employment, payroll, federal and New Hampshire state tax on interest and dividends.

If you want help with your taxes, Incfile provides a complete Business Tax Filing service.

How Your New Hampshire LLC Will Be Taxed

The profits of a New Hampshire LLC are not taxed at the business level like those of C Corporations. Instead, taxes for a New Hampshire LLC work as follows:

  • 1

    New Hampshire LLC owners pay self-employment tax on business profits.

  • 2

    New Hampshire LLC owners pay state tax on dividends and interest.

  • 3

    All LLC owners pay federal income tax on any profits less federal allowances or deductions.

  • 4

    Employers pay payroll tax on any salaries they pay to employees.

  • 5

    Employees pay federal, state and payroll tax on their earnings.

Items 1, 2 and 3 are taxed as “pass-through” income for any LLC owners, managers or members who receive profits from the business. Any profits are reported on federal and New Hampshire personal tax returns, and that’s where you will pay those taxes.

New Hampshire State Tax

There’s one main type of tax that you will pay to the New Hampshire Department of Revenue Administration: New Hampshire state income tax, which is applied to interest and dividends. As a New Hampshire business owner, you will pay state tax on just interest and dividends — regular earnings are not taxed by the state.

The New Hampshire state tax rate for interest and dividends is 5 percent.

Get details on the New Hampshire state tax here.

Federal Taxes for Your New Hampshire LLC

There are a couple of different federal taxes that every LLC will need to pay, including New Hampshire LLCs. These are self-employment tax and federal income tax, which are taxed as “pass-through” income via your tax return forms.

Federal Self-Employment Tax

All New Hampshire LLC business members or managers who take profits out of the LLC will need to pay self-employment tax. This tax is also known as FICA, Social Security or Medicare tax. It applies to all the earnings you withdraw from your New Hampshire business. The current self-employment tax rate is 15.3 percent.

You will be able to deduct your business expenses from your income when working out how much self-employment tax you owe. Here are some examples of how much self-employment tax you may need to pay, depending on your earnings:

  • On profits of $50,000, you would pay self-employment tax of $7,650.
  • On profits of $80,000, you would pay self-employment tax of $12,240.
  • On profits of $120,000, you would pay self-employment tax of $18,360.
  • On profits of $140,000, you would pay self-employment tax of $21,420.

Pay Less Self-Employment Tax by Treating Your New Hampshire LLC as an S Corporation

The Internal Revenue Service allows LLCs to ask to be treated as an S Corporation for tax purposes. This can help you reduce the amount of self-employment tax that you pay by declaring some of your income as salary and other income as distributions or withdrawals.

You can do this by making an “S Corporation Tax Election” with the IRS using a form known as Form 2553. We can file your Form 2553 with the IRS on your behalf.

Incifle Form 2553 S corporation tax election for an LLC service

Speak to your accountant for more information on reducing your New Hampshire LLC self-employment tax through an S Corporation tax election.

Federal Income Tax

You must also pay regular federal income tax on any earnings you take out of your New Hampshire LLC. The amount of income tax you pay depends on your earnings, current income tax brackets, deductions and how you file.

You only pay federal income tax on your LLC profits that you take out of the business, less certain deductions and allowances. This includes your tax-free amount, plus LLC business expenses and other deductions for areas such as healthcare and some retirement plans. Speak to your accountant for more information.

Employee and Employer Taxes for Your New Hampshire LLC

If you pay employees, there are some slightly different tax implications. Speak to your accountant to get clear guidance for your own unique situation.

FAQs on New Hampshire LLC Business Taxes

Launch
Your Business with Incfile

No contracts. No surprises.

Only $0 + state fee to launch your business.

Start Now

Fees and Requirements in

$0

State fee

0

State filing time

0

Expected filling time

Filing Time and Price

The state charges this amount to file a new business entity. This fee goes directly to the Secretary of State.

Compare State Filing Times
Compare State Filing Prices

Compliance Requirements

This report is mandatory and must be filed within the specified time frame in order for the entity to remain in good standing with the state. Failure to file this report can lead to the company being revoked or administratively dissolved.

Other State Requirements
loading

See How Easy It Can Be to Get Your Business Incorporated

Silver

$0

One time payment

Get the Silver Package
  • Package fee
    $0
  • State fee
    $0
The Silver services includes:
  • Prepare & Filing the Articles of Organization
  • Unlimited Name Searches
  • FREE Registered Agent for a year!
Most popular

Gold

Everything from silver+

$149

One time payment

Get the Gold Package
  • Package fee
    $149
  • State fee
    $0
The Silver package, and:
  • EIN Business Tax Number
  • IRS Form 2553
  • Operating Agreement
  • Banking Resolution
  • Lifetime Company Alerts
  • Online Access Dashboard
  • Unlimited Phone & Email Support
  • Business Banking Account
  • Business Tax Consultation
Best value

Platinum

Everything from Silver & gold+

$299

One time payment

Get the Platinum Package
  • Package fee
    $299
  • State fee
    $0
The gold package, and:
  • Business Contract Templates
  • Expedited Filing
  • Domain Name + Business Email

How We Compare

Get more for less.

Incfile
LegalZoom
ZenBusiness

Initial Filing Price

$0 + State Fee

$79 + State Fee

$49 + State Fee

Billed Annually

File Articles

Name Search

Business Dashboard with Additional Services, Content & Support

Business Tax Consultation

First Year Registered Agent

FREE

$249

Operating Agreement

$40

$99

EIN

$70

$159

Has to be purchased as a package with Operating Agreement.

$70

Business Contract Templates

$150

One-time fee or FREE with Platinum package.

$40

Monthly subscription *part of Smart Employer Package

Expedited Order

(+$50)

$350

*must purchase Express Gold package

$50

*rush order $100 + state fee

Subscribe Now to Learn More About LLC and Starting a Business