New Jersey Says Uber Owes It Up To $650 Million In Taxes And Penalties

Uber faces a $650 million tax assessment from New Jersey for misclassifying drivers as independent contractors. The state demands $523 million in back taxes and up to $119 million in penalties. This could force Uber to classify drivers as employees, increasing costs by over 20%. Uber plans to challenge the decision, claiming drivers are contractors, and the resolution may take years.

What new insight or understanding did you gain from this video?