15 Sep
Member News, New York Related News

Cea Legal | Mortgage Recording Tax

It’s no secret that the costs in connection with investing in real estate in New York are considerable. Our clients often ask us to provide us a detailed estimate of the expenses before making a final offer. When an investor is financing the purchase, one of the most significant disbursements to take into consideration is the mortgage recording tax. The mortgage recording tax is calculated as 1.8% of the financing amount under $500,000 and 1.925% on financing amounts over $500,000....

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26 Jul
Member News, New York Related News

Littler | New York State Launches New Hotline for Workplace Sexual Harassment Complaints

Earlier this year, Governor Kathy Hochul signed into law S.812B/A.2035B, which amended the New York State Human Rights Law, N.Y. Exec. Law § 296, to require the establishment of a state-wide, toll-free, confidential hotline for complaints of workplace sexual harassment. On July 19, 2022, Governor Hochul announced the launch of this new hotline. New York employees may now call 1-800-427-2773 to receive free legal counseling regarding any complaint of workplace sexual harassment or to submit a complaint regarding such harassment....

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13 May
Member News, New York Related News

FTI Consulting | What’s Next for Climate Risk Management?: Top Tips for Insurers to Address NY DFS’s Climate Guidance

Insurers, state and federal financial regulators are coping with the impact of climate change and the increasing risk it presents to the safety and soundness of financial institutions and to the stability of financial systems. The ever-increasing regularity and gravity of extreme weather-related events such as rapid swings in temperatures, tornadoes in the Midwest, wildfires in California, hurricanes in the Gulf Coast, and others have resulted in greater regulatory focus on climate-related risks for many sectors, including the insurance...

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11 May
Member News, New York Related News

Thompson Hine | New York Enacts Employee Privacy Law

Most businesses understandably work to protect the privacy and security of consumers’ personal information. Of at least equal importance, however, is the privacy and security of their employees’ information. On May 7, New York’s new employee privacy law became effective and it requires employers to provide written notice to their employees prior to engaging in certain electronic monitoring activities. The state’s attorney general is responsible for enforcing the law (as it does not expressly provide a private right of action),...

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21 Apr
Member News, New York Related News

CBIZ Marks Paneth | How the Recently Passed New York State Budget Affects Your Income Taxes

On Saturday, April 9, 2022, New York Governor Kathy Hochul enacted the State’s 2022-2023 budget. New York, like most states, is swimming in a cash surplus because of favorable tax collections and federal COVID relief, so this year’s enacted budget doesn’t bring any tax increases. Instead, it provides for tax relief in many areas, including property tax relief.  The following are some of the budget provisions affecting New York State and city income taxes: Middle Class Tax Cuts Tax cuts on middle...

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11 Apr
New York Related News

Governor Hochul Announces Highlights of Historic FY 2023 New York State Budget

Record Investments in Healthcare, Education, Housing, Infrastructure, and the Environment Increases State Reserves to 15 Percent of State Operating Funds Spending by 2025 Strengthens Public Safety and Government Ethics Governor Kathy Hochul today announced the highlights of the historic FY 2023 Budget, which blends record investments into the long-term future of New York along with significant one-time aid to help recover from the COVID-19 pandemic and unprecedented fiscal responsibility. This historic blueprint meets the once-in-a-generation moment to invest in...

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10 Mar
New York Related News

Mayor Adams to “Rebuild, Renew, Reinvent,” Unveils Blueprint for NYC’s Economic Recovery

Plan Will Help Deliver Accelerated Recovery, Built on Equity and Inclusivity Five Pillars, With More Than 70 Concrete Initiatives, Will Create Opportunities and Connect New Yorkers Seeking Work, Help Speed Return to Pre-Pandemic Employment Levels Major New Capital Investments in Hunts Point Produce Market and Surrounding Community to Support Modernization of Critical Food Supply Facilities and Help Neighborhood Thrive Blueprint Outlines “New New York” Blue-Ribbon Panel to Re-envision Central Business Districts, Lays Foundation for City’s Economic Future, With Investments in Small Businesses...

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28 Feb
Member News, New York Related News

CEA Legal | New NY State Liquor Authority Rules Expanding the Eligibility for Temporary Retail Permits

There is good news for business owners wanting to open a restaurant in New York, as the New York State Liquor Authority (NYSLA) has recently expanded the eligibility for temporary retail permits. This expansion will allow an applicant to temporarily sell on-premises alcoholic beverages from its restaurant while the actual license application is pending. The permit is usually issued for 90 days, with the possibility of 30 days renewal periods. As far as New York City is concerned, until...

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17 Dec
Member News, New York Related News

Littler | Back to Basics: New York State Mandates Masks in Indoor Public Places

On December 10, 2021, New York Governor Kathy Hochul announced that face masks must be worn in all indoor public places in New York State, effective December 13, 2021.  This measure was taken in response to a notable surge in COVID-19 cases and hospitalizations statewide, attributable to colder weather, increased holiday activity and the emergence of the more contagious Omicron variant of the COVID-19 virus.  The measure, which is supported by a determination from the commissioner of health, is effective through January 15, 2022,...

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14 Dec
Member News, New York Related News

Littler | New York City Council Passes Paid COVID-19 Child Vaccination Leave

On November 23, 2021, the New York City Council passed a bill amending its Earned Safe and Sick Time Act requiring all private-sector employers to provide their employees with four hours of paid COVID-19 child vaccination leave for each of their children, per vaccine injection, retroactive to November 2, 2021. The approved bill is now before New York City Mayor Bill de Blasio and will take effect immediately upon his signature. What does the law require? The amendment requires private employers covered by...

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