- October 1, 2021
- Posted by: Stratford Team
- Category: Business
Executive Summary: Effective October 1, 2021, Florida businesses will be required to submit new hire information for their independent contractors to the Florida Department of Revenue. This is a significant change for business in Florida as previously reporting of independent contractors by a business was optional.
On June 16, 2021, Governor DeSantis signed into law Senate Bill 1532, amending Fla. Stat. 409.2576, to now require any “service recipient” in Florida to submit a report to the State Directory of New Hires for each individual who is not an employee but is nonetheless paid $600 or more per calendar year for services.
What Does This Mean?
Specifically, Florida businesses that have paid an independent contractor $600 or more in a calendar year must submit new hire information within 20 days after their first payment to the independent contractor or the date on which the business and independent contractor entered into the…