New York Expands Scope of its Workplace Discrimination Laws
New York Governor Andrew Cuomo has signed into law several bills that expand protections against gender discrimination, sexual harassment, and domestic violence. This comprehensive legislation amended several New York laws that directly impact New York employers. A summary of the recent changes and how it affects employers is provided below. 1. The remedies available to Read More »
DEC Issues Much Anticipated Regulations for Brownfield Cleanup Program
On June 9, 2015, the New York State Department of Environmental Conservation (DEC) released proposed regulations that define certain terms for purposes of the Brownfield Cleanup Program (BCP). These regulations are significant for sites located in New York City and for sites that are applying or have applied to the BCP but have not yet Read More »
Brownfield Tax Credit Alert – Environmental Testing and Monitoring Services Subject to NY Sales and Use Tax
A New York appellate court affirmed the state tax department's position that environmental testing and monitoring services are subject to sales tax. The dispute involved payments made by Exxon Mobil to contractors between 2000 and 2004 for testing and monitoring on properties affected by petroleum spills. The Tax Law distinguishes between services related to maintaining, Read More »
Lawmakers Reach Deal to Reform NYS Brownfield Cleanup Program
New York State Governor Andrew Cuomo and the New York State Legislature have agreed to extend and modify the financial incentives under New York's Brownfield Cleanup Program (BCP) as part of the 2015-2016 State budget, which was signed into law on April 13, 2015. Important program changes to the BCP are also included in the Read More »
Brownfield Cleanup Program Changes in the 2015-16 Executive Budget
On Wednesday, January 21, Governor Andrew Cuomo released his proposed executive budget for the 2015-16 fiscal year. As anticipated, the budget bill addresses the Brownfield Cleanup Program (BCP) tax credits in detail. The BCP credits are scheduled to sunset for sites that do not receive a certificate of completion (CoC) from the NYS Department of Read More »
Governor Cuomo Vetoes Brownfield Cleanup Program Extension
On December 29, Governor Andrew Cuomo vetoed a bill that would have extended the deadline until March 31, 2017 for sites in the New York State Brownfield Cleanup Program (BCP) to receive a certificate of completion in order to retain eligibility for state tax credits. The extender bill passed the Legislature in June. Click here to Read More »
Disclosing Foreign Assets to the IRS – A Significant New Option
As of July 1, 2014, the IRS has substantially revised its streamline procedure for reporting foreign assets and now this option is available to U.S. taxpayers residing in the United States regardless of the amount of tax due once in the process. This new streamline procedure is intended to encourage more U.S. taxpayers to voluntarily Read More »
Changes to New York Estate and Gift Taxes: Will They Affect You?
Effective April 1, 2014, New York's rules have changed for estate and gift tax. We have summarized the changes and their potential impact on your estate plan. Click on the document link above to review our full report. Read More »