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Stock impact report

What a New California Law About Independent Contractors Would Mean to Uber and Lyft [The Motley Fool]

Uber Technologies, Inc. (UBER) 
Last uber technologies, inc. earnings: 2/6 04:05 pm Check Earnings Report
Company Research Source: The Motley Fool
What a New California Law About Independent Contractors Would Mean to Uber and Lyft Ride-sharing companies Uber ( NYSE:UBER Lyft NASDAQ:LYFT initial IPOs New York City, the companies' most lucrative market, recently enacted new laws to limit the number of drivers who work for the ride-share companies, establish a minimum wage for the workers, and limit the amount of time they spend on the road. On the West coast, the California state Senate will soon vote on Assembly Bill , a measure that would limit the companies' ability to continue classifying their drivers as independent contractors. If the bill passes, Uber and Lyft will have to designate all drivers as employees, which would require them to comply with minimum wage laws and pay employer-based taxes, among other measures. Image Source: Uber Earlier in 09, in its S-filing with the U.S. Securities and Exchange Commission, Uber said, "Our business would be adversely affected if drivers were classified as employees instead of indepen Show less Read more
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