Client Alerts

New York State Creates New Obligations for Sellers of Residential Real Property Under the Amended Property Condition Disclosure Act

February 13, 2024
Effective March 20, 2024, the amended New York Real Property Law Chapter 50, Article 14 (the “Property Condition Disclosure Act”) will compel all sellers of residential property to complete and...

The U.S. Department of Labor Finalized Changes to the Independent Contractor Classification for 2024

February 12, 2024
On January 10, 2024, the United States Department of Labor (“DOL”) published a final rule providing guidance on how to determine whether a particular individual is an employee or independent...

Corporate Transparency Act Now in Effect: Reporting Requirements, Deadlines and Penalties

January 24, 2024
The beneficial ownership information report (“BOI Report”) required under the Corporate Transparency Act (the “CTA”) is now in effect. The CTA requires that all entities, subject to certain exemptions, file...

State Legislature Passes Bill To Limit the Amount of Retainage That Can Be Withheld on Private Projects

January 18, 2024
On November 17, 2023, Governor Kathy Hochul signed Senate Bill S.3539/A.4167, which has since been referred to as the “5% Retainage Bill” (the “Bill”). Aimed at reducing the amount of...

NYC Enacts a Law Requiring Employers to Provide a Workers’ Bill of Rights to All Employees Without Regard to Their Immigration Status

December 29, 2023
New York City recently enacted a law (N.Y.C. Admin. Code §§ 32-101 and 32-102) that requires the Commissioner of the City’s Department of Consumer and Worker Production (“DCWP”), in coordination...

New York State Department of Labor Finalized Changes to the Tip Credit & Exempt Employee Salary Thresholds for 2024

December 28, 2023
On December 27, 2023, the New York State Department of Labor finalized new rates for the tip credit and exempt employee salary thresholds as well as rates for meal credits...