Can cash be refused by businesses? The short answer is ‘yes’.
Businesses can refuse $100 bills or even cash altogether, as no federal law mandates private businesses to accept cash payments.
The Federal Reserve explains that while U.S. currency is legal tender, businesses can set their own payment policies unless state laws specify otherwise.
In New York, there is no statewide law prohibiting cashless businesses, though New York City requires companies to accept cash.
A state bill to address cashless establishments failed to advance in the legislature, leaving businesses free to decide their payment methods.
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