New York compliance for welders
- Sales tax: 4.00% state rate. Applies to services. Many services taxable (info, parking, repair). Combined 8-8.875%.
- Late fees: Up to 2% per month under NY Gen. Oblig. Law §5-501. Civil usury cap 16%/yr (1.33%/mo); construction Prompt Pay allows 1%/mo.
- Written contract: Required over $500.
Avg invoice
$1,450
Net terms
14 days
Deposit
25%
State
NY