Form a Partnership in New Hampshire
Everything you need to know about forming a Partnership in New Hampshire. Filing fees, requirements, timeline, and step-by-step guidance.
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How to File
Choose Your Partnership Type
Decide between a General Partnership (GP), Limited Partnership (LP), or Limited Liability Partnership (LLP). GPs require no state filing but offer no liability protection, while LPs and LLPs must register with the NH Secretary of State.
1-2 hours
Select and Verify a Partnership Name
Choose a unique business name and search the NH Secretary of State's database to confirm it is not already in use. LPs must include 'Limited Partnership' or 'LP' in the name; LLPs must include 'Limited Liability Partnership' or 'LLP'.
30 minutes
Designate a Registered Agent
Appoint a registered agent with a physical street address in New Hampshire who is available during normal business hours to receive legal and official documents on behalf of the partnership.
30 minutes
Draft a Partnership Agreement
Create a written partnership agreement outlining each partner's roles, capital contributions, profit and loss sharing, decision-making authority, and procedures for dissolving the partnership. Although not legally required, this document is strongly recommended.
2-5 hours
What's Next After Filing
Once your Partnership is officially formed, you'll want to complete these important steps:
- •File Formation Documents with the State — Submit the Certificate of Limited Partnership (for LPs) or the Application for Registration as a Limited Liability Partnership (for LLPs) to the NH Secretary of State along with the $100 filing fee. General Partnerships may instead file a Trade Name application if operating under a DBA.
- •Obtain an EIN and Open a Business Bank Account — Apply for a Federal Employer Identification Number (EIN) through the IRS at no cost, then use it to open a dedicated business bank account to keep partnership finances separate from personal funds.
- •Register for State Taxes and Obtain Licenses — Register with the NH Department of Revenue Administration for applicable taxes such as the Business Profits Tax (BPT) and Business Enterprise Tax (BET), and obtain any required local or industry-specific business licenses or permits.
Advantages
- ✓Simple and inexpensive to form, especially for General Partnerships which require no state registration fees
- ✓Pass-through taxation means partnership income is taxed only at the individual partner level, avoiding double taxation
- ✓Flexible management structure with no required formalities such as board meetings or corporate resolutions
- ✓New Hampshire has no personal income tax, making distributions to partners particularly tax-advantaged for residents
Considerations
- •General partners face unlimited personal liability for business debts and legal judgments, putting personal assets at risk
- •Partnerships dissolve or require restructuring upon the death, withdrawal, or bankruptcy of a general partner unless the agreement states otherwise
- •Raising capital is more difficult than with a corporation since partnerships cannot issue stock or bring in investors as easily
Annual Obligations
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