Square is expanding its payroll offering to Florida.
The payroll service, which is aimed at small businesses, is already available in Texas and California. With the addition of Florida, Square said that the service is now available to nearly 30% of small businesses nationwide. The payments company sought to bring the service to Florida because of the state's high share of small businesses.
Square Payroll assists business owners in avoiding fines or penalties by handling complex filing requirements. Through the service, employees can clock in from the register, replacing handwritten time sheets. Additionally, the system also handles the computing of state and federal taxes, sick leave and time off.
The service costs businesses $20 a month plus $5 per employee paid during that period.
Square began trading Thursday on the New York Stock Exchange at $11.20 per share, with shares quickly going up in value.