Title: New Hampshire Sample Letter Regarding Articles of Incorporation — Election of Sub-S Status Introduction: New Hampshire Sample Letter regarding Articles of Incorporation — Election of Sub-S Status is a formal document used by businesses incorporated in the state of New Hampshire to elect Subchapter S (Sub-S) tax status with the Internal Revenue Service (IRS). This letter signifies the company's intent to be treated as an S Corporation for tax purposes, providing certain advantages, such as pass-through taxation. Below, we present a detailed description of this letter and its various types. 1. New Hampshire Sample Letter Requesting Sub-S Status Election: This type of letter is used by newly formed corporations in New Hampshire to formally request Sub-S election with the IRS. It includes essential details such as the company's name, address, federal tax identification number, and a statement of intent to be taxed as an S Corporation. It may also contain any additional information required by the IRS. 2. New Hampshire Sample Letter to Amend Articles of Incorporation for Sub-S Election: This letter is utilized when an existing New Hampshire corporation wishes to amend its Articles of Incorporation to include the election of Sub-S status. It includes relevant information such as the corporation's legal name, date of incorporation, and the specific amendments being made to the Articles to accommodate the Sub-S election. 3. New Hampshire Sample Letter Confirming Sub-S Status Election: After the corporation has successfully elected Sub-S status, this letter is sent to the New Hampshire Secretary of State's office to confirm the election. It contains the corporation's name, date of election, and a statement requesting the Secretary of State to update their records to reflect the company's Sub-S status. 4. New Hampshire Sample Letter Notifying Shareholders of Sub-S Election: Once the Sub-S election is made, it is essential to inform all shareholders of the corporation about this decision. This letter notifies shareholders about the company's election of Sub-S status, explains the implications for their individual tax liabilities, and provides any necessary instructions or documentation they might require for their personal tax returns. 5. New Hampshire Sample Letter for Sub-S Election with Yearly Tax Return: When filing the yearly tax return as an S Corporation, this letter is attached to provide the IRS with a formal statement of Sub-S election. It reaffirms the company's intent to be taxed under Subchapter S and ensures proper acknowledgment and treatment by the IRS. Conclusion: The New Hampshire Sample Letter regarding Articles of Incorporation — Election of Sub-S Status encompasses various letters used during the process of electing Sub-S status for a corporation in New Hampshire. Each letter serves a specific purpose and contributes to maintaining proper documentation while enjoying the benefits of Sub-S taxation.
New Hampshire Sample Letter regarding Articles of Incorporation - Election of Sub-S Status
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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.
Choose a business name for your S corp. ... File articles of incorporation. ... Issue stock for your S corp. ... Elect a board of directors and appoint officers. ... Meet other S corp eligibility requirements. ... Obtain an employer identification number. ... Elect S corp status. ... Apply for state and local S corp business licenses.
The articles should include: The corporation's name, location, and purpose. The number of shares the corporation is authorized to issue. The registered agent's name and registered office's address. Each incorporator's name and address. The names of each initial director. The corporation's purpose and primary activities.
Follow these five steps to start a New Hampshire LLC and elect New Hampshire S corp designation: Name Your Business. Choose a Registered Agent. File the New Hampshire Certificate of Formation. Create an Operating Agreement. File Form 2553 to Elect New Hampshire S Corp Tax Designation.
Articles of Incorporation refers to the highest governing document in a corporation. It is also known known as the corporate charter. The Articles of Incorporation generally include the purpose of the corporation, the type and number of shares, and the process of electing a board of directors.
Establishing an S Corporation in California is an excellent way for self-employed individuals to get their businesses up and running while also taking advantage of the various tax benefits, such as the California S Corp tax rate, that come along with it.
Three states are particularly known for having legal systems beneficial for businesses: Delaware, Nevada, and Wyoming. Advantages of forming a business in Delaware: Delaware offers businesses flexibility in setting up their corporate officers and board structures.
Switching to an S corp. may make sense if the financial benefits outweigh the administrative hassles. A major reason for choosing S corp. taxation is to save money on self-employment taxes.
