If you read the headline above and concluded there was nothing new, like us, you’d be wrong. Effective October 1st, Fisher & Phillips explains that a new Florida law requires “any service provider” – not just businesses – to report contractors earning $600 or more per calendar year.
In addition, similar to the new hire reporting process, we’re obligated to use the online reporting tool at the State Directory for New Hires to report the independent contractor. The report requires all of the contractor’s personal information as well as the date of first payment, and this must be done within 20 days of either the first payment or the date of contract.
It should be noted that the contractor’s social security number is needed for the report, as well. The reason for the new regulation is to facilitate child support collection, making the rules for contractors substantially the same as those for employees.
We recommend an immediate review of your current workforce and future hiring so that you can comply with this new requirement.