Medical Spa Business Registration in New York State Q&A
Q: |
What Services Should be Performed by Licensed Professionals? |
A: |
Partnering with professional physician is the key to operate a medical spa business. New York state require the following medical spa services must be performed by medical professional who has a license in New York State. The services include:
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Q: |
Can Foreigners Invest in Medical Spa Business in New York State? |
A: |
If foreign business owner wants to invest in medical spa business in New York State, registering a consulting company and partnering with licensed medical professionals is a practical solution to bypass the registration. The foreign business owner can enter a nominee shareholder agreement with the professional. Kaizen can refer a New York lawyer specialized in business law to draw up the agreement on how to operate and allocate profits thereafter.
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Q: |
How to Establish a Professional Corporation in New York State? |
A: |
There are several steps to register a Licensed Physician Service Corporation (Professional Corporation/LLC):
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Q: |
Does Medical Spa Need to Pay Sales Tax in New York State? |
A: |
Typically, the services performed in a medical spa are not taxable. However, if your spa sells items of tangible personal property to your customers, you must register sales tax ID to collect sales tax on these items. New York State Sales and Use Tax is 4%, The City Sales Tax rate is 4.5%. If the store located in New York City, a total Sales and Use Tax of 8.875%.
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Q: |
Any Annual Renewal Requirements for Medical Spa? |
A: |
Generally, a professional corporation is not renewed every year, however you must furnish a triennial statement listing the basic company information and officer information and pay a statement fee to the Department. Triennial statements are routinely mailed by the Division of Professional Licensing Services for completion by the professional corporation. |