The Freelance Isn’t Free Act (FIFA) applies to contracts entered into today and going forward. A business retaining the services of an independent contractor with a single project of $800 or more or in the aggregate of $800 over a 120-day period must put the contract in writing. The contract must specify the rate of pay, payment date, and more. Payment must be made no later than 30 days after completion of the work. If a business violates FIFA and a contractor complains to the state, the NY Attorney General can seek fines up to $25,000, injunctive relief, and more. Will other states enact similar laws? #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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ICYMI: What's in the "One Big, Beautiful Bill" for Small Business? Barbara Weltman @BigIdeas4SB digs into the House-passed bill and reviews key tax-related provisions. The Senate is now acting on the bill, which will likely include some changes. More: