New York Related News

New York Related News

Member News, New York Related News

Grassi | Remote Workforces May Bring UBT Savings for NYC Businesses

While New York State has maintained that non-residents who telecommuted to their NY-based jobs during COVID-19 are still subject to the state’s personal income tax under the convenience of the employer rule, the issue is less clear when it comes to business taxes, such as the NYC Unincorporated Business Tax (UBT). Partnerships, LLCs or sole proprietorships that are subject to the UBT may be able to realize additional tax savings on their 2020 returns due to their remote workforces. This is because the...
Member News, New York Related News

Marks Paneth | New York State budget proposals: What’s in store for high-net-worth individuals?

On January 19, 2021, Governor Andrew Cuomo outlined the Fiscal Year (FY) 2022 Executive Budget in the wake of the ongoing COVID-19 pandemic. The timing and amount of federal aid will determine the level of tax increases that will be enacted by the state in FY 2022. If Congress fails to provide at least $15 billion in funding, the New York State Executive Budget proposes several significant tax law changes, as follows. Increase in Tax Rates on Highest Earners:  The...
COVID-19 News, Member News, New York Related News

Grassi & Co. | Moves out of NYC Muddy the SALT Waters for NYS Residents

While a halt in state income tax payments can trigger a residency audit in many states, New York City is one of the few municipalities to aggressively pursue them. With office buildings across the city dark for most of 2020 and employees flocking to other states or second homes, many taxpayers are left wondering where their 2020 resident state and local tax (SALT) obligations lie. This issue is often the blurriest for New York State residents, who still reside in...
Member News, New York Related News

Ogletree | New York City Says Goodbye to At-Will Employment for the Fast Food Industry

On January 5, 2021, New York City Mayor Bill de Blasio signed legislation that effectively ends at-will employment for fast food employees in New York City. The new law takes effect on July 4, 2021, and would make New York City the nation’s first jurisdiction to create job protections for a particular industry. However, at least some portions of the new law may be ripe to challenge on federal preemption and other grounds. The new law was passed via...
COVID-19 News, Member News, New York Related News

RPJ | Covid-19 Regulations: Where We Are and Where We Are Headed

Introduction The rollercoaster ride of 2020 has sure had its ups and downs, and 2021 is destined to continue this trend with regulatory action expanding and contracting in order to attempt to contain the spread of Covid-19 while balancing the desire to keep the economy going. This guide examines regulations that have been put in place primarily in New York to deal with Covid-19, but also throughout the United States, and projects future regulatory and related trends and repercussions that...
COVID-19 News, Member News, New York Related News

CEA Legal | Real Estate: Personal Liability-Related Challenges Faced By Commercial Landlords During the Pandemic

November 09, 2020 | Recently, Mayor de Blasio signed a new measure into law that bans landlords from attempting or threatening to enforce personal liability clauses in the existing contracts of business owners to whom they have leased their properties. Enacted in May and applied retroactively to the beginning of March, this specific law was set to expire at the end of September. However, as a result of the Mayor’s extension, the law will now apply through March of next...
Member News, New York Related News

Littler | DOL Revises FFCRA Regulations to Clarify Paid Leave Rules in Wake of New York Federal Court’s Decision

On September 11, 2020, the U.S. Department of Labor (DOL) issued revised regulations under the Families First Coronavirus Response Act (FFCRA) following a federal court’s decision that invalidated a handful of regulatory provisions interpreting the FFCRA.  Although the DOL was widely expected to address the court decision through revised regulations and/or court action, these new regulations throw additional curveballs for employers already struggling to comply with extensive COVID-19-related legislation. Decision Invalidating Parts of Rule and DOL’s Response On August 3, 2020,...
New York Related News

Governor Cuomo Announces $15.1 Million in Federal Funding to Support Emergency Planning and Response

Funding Supports Emergency Planning Efforts and Operational Readiness Deadline for Applications is August 31, 2020 Governor Andrew M. Cuomo today announced $15.1 million in federal funding is being made available to New York State and county emergency management agencies to support planning and operational readiness for any type of disaster New York may experience. Through the federal Emergency Management Performance Grant, an annual grant program, awardees are able to access funding to support efforts ranging from the development and implementation of...

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