Why is My New Hampshire Business Not in Good Standing?

Maintaining good standing with the state is crucial when beginning and operating a business in New Hampshire. This entails staying current with the tax and filing obligations for your company. There are a few reasons your New Hampshire company might not be in good standing if you’re wondering why.

Failure to submit annual reports to the New Hampshire Secretary of State is a frequent cause of a business losing good standing. Every year, all New Hampshire-registered corporations, LLCs, and other business entities are required to submit an annual report. This report contains crucial details about the company, like the officers’ and directors’ addresses. In New Hampshire, corporations must pay $100 to file an annual report, while LLCs and other businesses must pay $50.

Failure to pay state taxes or fees is another reason why a company can not be in good standing. Business Profits Tax, Business Enterprise Tax, and Interest and Dividends Tax are just a few of the taxes and fees that apply to businesses in New Hampshire. Some companies could also be charged fees for permits or licenses. These taxes and fees must be paid on time to avoid penalties, interest charges, and a loss of good standing.

Additionally, companies in New Hampshire are required to keep a registered agent there. A person or firm named as the registered agent will accept legal paperwork on the company’s behalf. Your company may be reported as being in bad standing if your registered agent has changed and you haven’t informed the state of the change.

There is no statewide mandate for business licenses in New Hampshire. However, certain enterprises could need licenses or permits from the local government. For instance, the local health authority may require enterprises in the food service sector to get a health inspection certificate or a food service establishment license.

There is no standard fee for a license because New Hampshire does not have a statewide requirement for business licenses. But as was already said, some firms would need to apply for licenses or permits at the local level, and such fees can differ. The best place to find out what licenses or permissions your company could require and the accompanying charges is to contact your local government.

You must submit articles of incorporation to the New Hampshire Secretary of State’s office in order to legally establish a business there. Articles of incorporation require a $100 filing fee. Additionally, as was already said, you must designate a registered agent for your company in New Hampshire. Once your articles of incorporation have been authorized, you must apply for any municipal licenses and permits that may be required.

You must submit a Statement of Change of Registered Office or Registered Agent form to the New Hampshire Secretary of State’s office in order to modify the registered agent for your LLC in that state. This form has a $15 filing charge. The name and address of your new registered agent must also be provided. On the website of the New Hampshire Secretary of State, this form may be submitted online or by mail. To prevent any problems with your company’s reputation in the state, it’s crucial to keep your registered agent information up to current.

The inability to file yearly reports, pay taxes or fees, or maintain a registered agent are just a few of the reasons why a business in New Hampshire can not be in good standing. To keep your company in good standing with the state, it’s critical to stay current with all filing and tax regulations. Although a statewide business license is not required in New Hampshire, some enterprises may need municipal licenses or permits. A registered agent must be named when a business is incorporated in New Hampshire, and a Statement of Change of Registered Office or Registered Agent form must be submitted when a registered agent needs to be changed.