11 Jan
New York Related News

Troutman-Pepper | New York LLC Transparency Act Enacted

The New York LLC Transparency Act (NYLTA) was signed into law on December 22, 2023. Upon effectiveness on January 1, 2025, all limited liability companies (LLC) that are either formed under New York law or are seeking authority to do business in New York, will be required to disclose, among other information, the identities of their beneficial owners to the NY Department of State, unless a reporting exemption applies. Such beneficial ownership information will be compiled into an internal...

Read more

10 Jan
Chapter News, New York Related News

New York FED – Inflation Expectations Decline Across All Horizons

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the December 2023 Survey of Consumer Expectations, which shows that inflation expectations declined at the short-, medium- and longer-term horizons. Notably, inflation expectations at the short-term horizon reached the lowest level recorded since January 2021. Earnings growth and spending growth expectations also decreased slightly to their lowest recorded levels since 2021, while expectations about credit access and households’ financial situation turned less pessimistic. The main findings...

Read more

13 Dec
Member News, New York Related News

Wilson Sonsini | New York City Announces Reinstatement of Refundable Biotech Tax Credits for Emerging Companies Through 2026

On December 4, 2023, New York City Mayor Eric Adams signed legislation to reinstate previously lapsed tax credits for biotech companies (the Credit), with a view towards bolstering the emerging biotechnology sector in New York City. Eligible companies can apply the Credit against certain New York City taxes for tax years beginning on or after January 1, 2023, and before January 1, 2026. Notably, for eligible companies who do not owe sufficient New York City taxes, the excess amount...

Read more

04 Dec
Member News, New York Related News

Littler Mendelson | New York Enacts Greater Restrictions on Release Agreements Involving Claims of Discrimination, Harassment, or Retaliation

On November 17, 2023, the New York governor signed into law S4516, which amends Section 5-336 of the New York General Obligations Law to restrict certain terms from being included in release agreements involving claims of discrimination, harassment, or retaliation. The amendments went into effect immediately and apply to agreements entered into on or after the effective date. Section 5-336 is one of the original #MeToo statutes. It was intended to limit the use of confidentiality agreements that prevent victims...

Read more

25 Sep
Member News, New York Related News

Littler Mendelson | New York State Proposes Regulations for Pay Transparency in Job Advertisements

Earlier this year, New York State joined a growing number of states and cities that have passed laws mandating salary disclosure when advertising open positions. New York’s salary transparency law requires employers to post salary ranges in job advertisements that promote jobs that will be performed, in whole or in part, in New York State, and in advertisements for jobs that report to supervisors located in New York State.   Although this law went into effect on September 17, 2023, the New...

Read more

17 Aug
New York Related News

PwC | New York proposes corporate tax reform regulations

Since 2015, the Department has posted to its website nonbinding drafts of various regulatory amendments for public comment prior to the formal process for proposing and adopting regulations. The Department solicited public comments, and the draft regulations were amended in response to those comments over the years. Last summer the Department posted final draft regulations to its website. The current proposed regulations contain various changes from the 2022 draft regulations and have been formally proposed by the Department pursuant...

Read more

17 Aug
New York Related News

Ogletree Deakins | New York State Bill Proposed to Restrict Electronic Monitoring, Automated Employment Decision Tools

Under a recently introduced bill, employers across New York State could face new restrictions on the electronic surveillance of workers and the growing use of automated decision-making and artificial intelligence (AI) technology to make employment decisions. Quick Hits Proposed New York State bill would restrict employers’ use of electronic monitoring and automated employment decision-making technology. The bill would require employers to notify employees and job candidates that such tools are being used and specifically require automated employment decision tools to...

Read more

03 Jul
Member News, New York Related News

Troutman Pepper | Wide-Ranging New York Noncompete Law Awaits Governor’s Signature

Summary On June 20, the New York State Legislature passed a bill prohibiting noncompetes. The bill currently awaits Governor Hochul’s signature. If signed into law, it will take effect just 30 days later, but will only be applicable to contracts entered into or modified on or after the effective date — it will not have retroactive effect. The proposed law would prohibit employers from entering into noncompete agreements with “covered individuals,” which, as explained in more detail below, clearly includes employees...

Read more

21 Jun
Member News, New York Related News

Ogletree | New York State Assembly Passes Non-Compete Bill

On June 20, 2023, the New York State Assembly approved one of two bills concerning non-compete agreements that the New York State Senate just recently passed. Bill No. S3100A, which would prohibit employers from using non-compete agreements, passed the Assembly and is on its way to the desk of Governor Hochul for signature. Quick Hits The New York State Assembly approved legislation (Bill No. S3100A) that would prohibit employers from using non-compete agreements. Bill No. S3100A does not address employee...

Read more

24 Mar
New York Related News

Governor Hochul Announces $7.6 Million Expansion of Schrödinger Headquarters in NYC

Performance-Based Excelsior Jobs Program to Support Creation of Up to 80 New Jobs | Expansion Builds on Prior Investments in Taystee Lab Building, Harlem Biospace to Grow New York's Life Sciences Sector | Governor Kathy Hochul today announced Schrödinger, Inc. - whose physics-based computational platform is transforming the way therapeutics and materials are discovered - is investing $7.6 million to expand operations at its headquarters in New York City. Schrödinger will lease additional space at 1540 Broadway as it grows...

Read more

«‹34567›»