Forming a sole proprietorship may be a wise choice if you’re wanting to launch a small business in New Hampshire. The simplest type of business formation is a sole proprietorship, which enables you to operate your company as a person. The following information can help you establish a sole proprietorship in New Hampshire.
Select a business name in the first step. You must select a company name before you can create a sole proprietorship. Make sure the name you select is original and not being used by another company in the state. To see if your desired business name is available, you can search the online database of the New Hampshire Secretary of State.
Step 2: Declare Your Company
After deciding on a company name, you must register your company with the state of New Hampshire. By submitting a Trade Name Registration form to the Secretary of State’s office, you can accomplish this. The form must be submitted for a $50 charge.
Obtain a Certificate of Good Standing in Step 3 A Certificate of Good Standing is a record that certifies that your company complies with all applicable state laws and rules. While obtaining a Certificate of Good Standing is not necessary in order to run a sole proprietorship in New Hampshire, it might be useful if you want to seek for loans or sign agreements with other businesses. A Certificate of Good Standing is available by request from the New Hampshire Secretary of State’s office.
Does New Hampshire Require a Business License for Online Sales? You can sell online in New Hampshire without getting a particular company license. If you intend to offer taxable products or services, you might need to get a seller’s permit. Through the New Hampshire Department of Revenue Administration, you can apply for a seller’s permit.
Is a Tax ID Number Required to Sell on Etsy? Your Social Security number will be required if you intend to sell on Etsy as a sole proprietorship as your tax identification number. The IRS may require that you obtain an Employer Identification Number (EIN) if you intend to hire staff members or create a partnership or company in the future.
In conclusion, establishing a sole proprietorship in New Hampshire is a simple procedure that includes picking a business name, registering your company, and, if wanted, acquiring a Certificate of Good Standing. While a specific business license is not required in New Hampshire to sell online, you might need a seller’s permit if you want to sell taxable goods or services. You can use your Social Security number as your tax identification number if you intend to sell items on Etsy, but you might eventually need to get an EIN.