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Barbara Weltman

Big Ideas for Small Business, Inc.

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NY’s Independent Contractor Law Effective Today

August 28, 2024 / By Barbara Weltman

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

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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