Mississippi accounting independent contractor agreement template

Mississippi Accounting Independent Contractor Agreement

This Accounting Independent Contractor Agreement (the "Agreement") is made and entered into as of [Date], by and between:

[Client Name], located at [Client Address], email: [Client Email], phone: [Client Phone] (hereinafter referred to as "Client"),

and

[Contractor Name], located at [Contractor Address], email: [Contractor Email], phone: [Contractor Phone] (hereinafter referred to as "Contractor").

1. Scope of Services

The Contractor agrees to provide the following accounting services to the Client:

Option A: Comprehensive Bookkeeping Services

• Maintaining accurate and up-to-date financial records.
• Reconciling bank accounts and credit card statements.
• Processing accounts payable and accounts receivable.

Option B: Payroll Processing

• Calculating and processing employee payroll.
• Preparing and filing federal and Mississippi state/local payroll tax returns.
• Managing employee benefits administration.

Option C: Financial Statement Preparation

• Preparing accurate and timely financial statements (balance sheet, income statement, statement of cash flows).
• Compilation or review services performed according to professional standards.

Option D: Tax Planning and Compliance

• Providing tax planning strategies to minimize tax liabilities.
• Preparing and filing federal and Mississippi state/local income tax returns.

Option E: Sales and Use Tax Filings

• Managing state sales or use tax filings.

Option F: Internal Controls Consulting

• Consulting on and evaluating internal controls procedures.

Option G: Audit Support

• Providing support during audits.

Option H: Financial Analysis and Reporting

• Periodic financial analysis and reporting.

2. Project Deliverables, Quality and Timelines

• Clear and concise deliverables as requested.
• Quality standards compliant with current professional accounting standards and Mississippi Board of Public Accountancy requirements.
• Delivery timelines: [Delivery Timelines].
• Frequency of service: [Recurring, Ad Hoc, On-Demand].
• Formats for deliverables: [Paper, Electronic].
• If electronic, secure transmission requirements apply.

3. Location and Mode of Work

• Option A: Client's Mississippi premises: [Yes/No].
• If yes, requirements for on-site work: [On-site work requirements].
• Option B: Remotely: [Yes/No].
• If yes, requirements for remote access to client accounting systems: [Remote access requirements].
• Mississippi law-compliant electronic records handling.
• Data protection protocols reflecting Mississippi and federal privacy laws (e.g., GLBA if applicable).

4. Compensation

• Option A: Hourly rate: [Hourly Rate].
• Option B: Per project: [Project Description & Fee].
• Option C: Retainer: [Retainer Amount & Scope].
• Option D: Blended fee: [Details of Blended Fee].
• Payment terms: [Payment Terms, e.g., Net 30].
• Accepted methods: [Accepted Payment Methods, e.g., Check, Electronic Funds Transfer].
• Mississippi-law-compliant electronic funds transfer details.
• Invoicing schedule: [Invoicing Schedule].
• Client's responsibility for Mississippi sales or use taxes: [Yes/No].
• Late payment consequences and interest (within Mississippi statutory limits): [Late Payment Terms].

5. Ownership and Intellectual Property Rights

• All workpapers, records, software, spreadsheets, and financial documentation are the exclusive property of the Client.
• Contractor must comply with Mississippi confidentiality and CPA privilege rules (if applicable).
• Compliance with AICPA Code of Professional Conduct and regulations set by the Mississippi State Board of Public Accountancy.

6. Nondisclosure and Data Protection

• Nondisclosure obligations covering non-public client information and third-party confidential information.
• Mississippi-specific provisions for breach notification procedures for data loss or compromise, in accordance with state notification laws.

7. Independent Contractor Relationship

• Contractor is not an employee of the Client.
• Contractor is solely responsible for federal and Mississippi state/local tax filings.
• Contractor is responsible for unemployment insurance and workers’ compensation exemptions under Mississippi law.
• Contractor is responsible for benefits.
• Contractor is responsible for required professional licenses or certifications (including ongoing compliance with Mississippi CPA licensing, if applicable).

8. Indemnification and Liability

• Contractor is responsible for breaches of confidentiality.
• Contractor is responsible for negligent errors or omissions.
• Contractor is responsible for failure to comply with accounting standards or state law.
• Contractor is responsible for damages resulting from professional errors.
• Contractor must maintain professional liability/errors and omissions insurance meeting minimum coverage levels required under Mississippi law: [Insurance Coverage Amount].

9. Termination

• Contract duration: [Contract Duration].
• Procedure for notice of termination: [Notice Period].
• Grounds for immediate termination for cause (breach, professional misconduct, loss of license).
• Procedure for confirming return or destruction of client data and privileged materials.
• Client's obligation to pay for completed work up to termination date.

10. Dispute Resolution

• Prioritizing negotiation and mediation.
• Exclusive venue for court proceedings: Hinds County, Mississippi, or the county where the Client's primary business is located in Mississippi.
• If arbitration, following local Mississippi arbitration provider rules.

11. Choice of Law

Mississippi law governs this Agreement, with reference to relevant Mississippi Code statutes for contract enforcement.

12. Compliance with Laws and Regulations

• Contractor must comply with all applicable federal and Mississippi state and local laws and regulations, including but not limited to: Mississippi Accountancy Act, Secretary of State business registration requirements, tax withholding rules, state labor classification criteria for independent contractors, local financial reporting/recordkeeping practices.
• Industry-specific compliance requirements.

13. Professional Licensing and Registrations

• Contractor must maintain all professional licensing and registrations in good standing.
• Contractor must disclose any disciplinary actions or changes in licensure status to the Client.
• Contractor must verify and document Mississippi residency or business registration status (if required by the client for procurement or statutory purposes).

14. Cooperation with Audits or Investigations

Contractor must cooperate with audits or investigations by Client or Mississippi state regulators.

15. Modifications

Any modifications or amendments must be in writing and signed by both parties.

16. Assignment and Delegation

• Subcontracting: [Allowed/Not Allowed].
• If allowed, approval and supervision obligations apply.

17. Notice

• Accepted forms of notice: [Written, Electronic].
• Addresses for notice delivery:
• Client: [Client Address], [Client Email].
• Contractor: [Contractor Address], [Contractor Email].

18. Standard Boilerplate

• Severability.
• Entire agreement.
• Waiver.
• Counterpart execution.

19. Mississippi-Specific Disclosures

• Contractor's taxpayer identification number: [Taxpayer Identification Number].
• Declaration of independent contractor status.
• Attached documentation:
• Certification.
• Licensure.
• Insurance.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

____________________________

[Client Name]

____________________________

[Contractor Name]