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Booth Rent Question (sharing one)

A friend and I are going to share a booth rent because our schedule permits us to share the space perfectly. I am wondering do we need to LLC it or anything because we do want to name our ares (its a private room so we can put a little sign on the door). Then also how do we deal with taxes? We're in NYC if that matters. If you want to give me any other advice, please feel free.

NY Licensed Nail + Waxing Tech
Owner/Developer Suite Tee
Instagram: @SuiteTee
Hi Tashawna,

I will be renting a suite in DC. Since I work FT, I am able to sub-lease my space to another tech during the times I am not there. That will reduce my weekly booth rent. In the agreement I will state that the individual is responsible for their own taxes because they are a booth renter as well. However, I have to draft the agreement with all the legal terms and agreements between us and manage the individual - the owner of the building does not get involved in that.

Not sure what the laws are in NY, but I established my business as an LLC (single operator). In DC, you (or someone in the salon) need to have a manager's license to be open for business and service the public (although some techs who booth rent do not) and if you are selling retail, you need a sales and use tax certificate.

I know it's different in every state. I hope this helps.

Bowie, MD
THanks! I found out I needed my Tax ID, DBA or LLC info, and an Area Renter Agreement.
NY Licensed Nail + Waxing Tech
Owner/Developer Suite Tee
Instagram: @SuiteTee

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