What is the child actor law about money?
Asked by: Keara Hudson | Last update: June 27, 2025Score: 4.9/5 (10 votes)
As it stands, money earned and accumulated under a contract under the code remains the sole legal property of the minor child. The law requires a child actor's employer to set aside 15% of the earnings in a trust (often called a Coogan Account) and codifies issues such as schooling, work hours, and time off.
Do child actors have access to their money?
Unfortunately for child actors, there are only laws like the Coogan law in FOUR states in the country: California, New York, New Mexico, and Louisiana. Kids in other states have no legal protection at all for their earnings—even the small 15% that a Coogan account shelters.
What are the laws for child actors?
In California, a minor under the age of 16 must have a parent or guardian within sight and sound. Minors who are 16 or 17 can be on set unaccompanied. In New York, minors under 16 must have a guardian 18 or older on set who monitors their well-being. Also in New York, a guardian may look after more than one minor.
How does payment work for child actors?
Since a minor cannot legally control their own money, California Law governs their earnings and creates a fiduciary relationship between the parent and the child. This change in California law also requires that 15% of all minors' earnings must be set aside in a blocked trust account commonly known as a Coogan Account.
What is the Coogan Law in 2024?
Coogan Law for Influencers
As of July 1, 2024, adults who use “the likeness, name or photograph" of a minor in paid online content to set aside a portion of the earnings in a trust.
What is a Coogan's Law for Child Actors, Musicians and Directors?
Which states have Coogan laws?
Coogan Account. At present, Coogan Accounts (a.k.a Blocked Trust Accounts and Trust Accounts) are required by the States of California, New York, Illinois, Louisiana, and New Mexico. In most instances, you will have to supply proof of a trust account prior to receiving a work permit.
What bill did Demi Lovato pass?
What you need to know: Governor Newsom joined Demi Lovato to sign AB 1880 (Alanis) and SB 764 (Padilla), bills to protect the financial well-being of child influencers.
Do child actors have to pay taxes?
Do child actors pay taxes? Yes, child actors are required to pay taxes if they earned more than a certain amount during the year. (This is true of any actor, regardless of age.) Your child will either be paid as an employee and receive a W-2 or as a self-employed independent contractor and receive a 1099-MISC.
Can parents take money out of a Coogan account?
In a Trust Account, the minor is the Beneficiary, and the parent/guardian is the Trustee. There can be no withdrawals until the minor reaches the age of majority (usually 18 years of age but as mandated by law per state). The Trustee may transfer funds to an equivalent account before that time.
How much money did Shirley Temple make as a child actor?
When 22-year-old Shirley Temple asked her father (who managed, with difficulty, the money she earned as a child) how much money was in her bank account, he informed her that only $44,000 was left of the approximately $3.4 million she had made as a child star.
How many hours do child actors work a day?
2 years to 6 years old – 3 hours. 6 years to 9 years old – 4-6 hours. 9 years and 16 years old – 5-7 hours. 16 years and 17 years old – 6-10 hours.
What is the famous child actor law?
California's Coogan Law requires employers to place 15% of a child actor's earnings in an interest-earning account, inaccessible until they reach adulthood. This is to prevent the exploitation of young talent, ensuring that at least a portion of their hard-earned money is preserved for their future benefit.
How can child actors legally work?
Laws pertaining to work permits vary widely from state to state. Most states require a general work permit before a minor may engage in any type of employment. In general: Most states require a letter from your child's school indicating that the child is in good academic standing before they will issue a permit.
What is the financial account for child actors?
A Coogan account is a type of protected savings account that is set up for child performers by their legal parents or guardians. Its main purpose is to protect a portion of the child's earnings until they become adults.
What are the cons of being a child actor?
As child stars age, they are often faced with rejection, objectification and a sense of burnout that can turn many away from the industry in its entirety. According to an article written by Paracelsus Recovery, former child actors are one of the most vulnerable communities for mental health problems.
Who is the youngest richest actor?
The world's richest child actor today is Iain Armitage, the star of Young Sheldon. All of 16, he is a millionaire already. But however big his achievement is, it pales in comparison with the riches earned by the OG child star, a boy who was so rich that he became a millionaire at 13, almost a century ago.
How much do Disney child actors make?
As of Jan 18, 2025, the average hourly pay for a Disney Actor in the United States is $27.36 an hour. While ZipRecruiter is seeing hourly wages as high as $67.07 and as low as $7.45, the majority of Disney Actor wages currently range between $14.42 (25th percentile) to $22.12 (75th percentile) across the United States.
Who is the most successful kid actor?
Shirley Temple was easily the most popular and famous child star of all time. She got her start in the movies at the age of three and soon progressed to super stardom.
At what age can I put my child on payroll?
At what age can I put my child on payroll? There is no minimum age someone must be before earning a salary. But double-check your state's child labor laws and ensure your child meets the age requirements to work and they can complete their job within your state's regulated working hours.
Do child actors have to go to school?
Compulsory education laws mandate that the education of the child actor not be disrupted while the child is working, whether the child actor is enrolled in public school, private school or even home school. The child does their schoolwork under the supervision of a studio teacher while on the set.
Can actors deduct clothing?
The IRS may allow deductions for items that couldn't be used for everyday personal benefit. For example, a new suit for an audition can be worn again, and may not count as a deduction. But a ball gown for an awards ceremony may be deductible.
What is Demi Lovato diagnosed with?
Demi Lovato is speaking out about her bipolar disorder diagnosis, saying she was relieved when she received it. Experts say this reaction is common, particularly for people who don't understand why they feel a particular way.
What gender is Demi Lovato now?
The singer says she constantly had to explain why she uses them/them pronouns. Skepticism and backlash around gender-neutral pronouns have taken a toll on Demi Lovato. The 30-year-old singer and songwriter — who came out as nonbinary in 2021 — recently opened up about why she went back to using she/her pronouns.
Why did Demi Lovato have a stroke?
Lovato overdosed in 2018 after taking drugs laced with fentanyl. She nearly died in a hospital after suffering several strokes and a heart attack connected with the overdose. However, Lovato didn't let her addiction win.