Posts
April 20 2020
The U.S. Chamber of Commerce started a Save Small Business Fund offering $5,000 grants to qualifying small businesses which have been financially harmed by the Covid-19 pandemic, employ between 3 and 20 employees, and are located within eligible “economically vulnerable communities.” Applicants may apply at https://savesmallbusiness.com.
Click HERE for more information.
April 17 2020
New York Tenant groups prepare for a mass rent strike in May if Gov. Cuomo does not issue an order to abate rent in light of the COVID-19 pandemic.
Click here for the full article.
April 16 2020
The SBA announced that it is currently unable to accept new applications for the Paycheck Protection Program due to the funding running out.
Click here for the announcement.
April 15 2020
Client Alert: COVID-19 Pandemic: When Is Construction Work Considered Essential During the COVID-19 Pandemic?
A month ago, all construction work in New York was considered to be essential and was exempt from the in-person workforce prohibition. On March 30, 2020, Governor Cuomo issued Executive Order 202.13, which limited the types of “essential” construction work that could continue and authorized the Empire State Development Corporation to determine the type of construction projects that are considered “essential”.
Click here to read the alert.
April 15 2020
Client Alert: Federal Reserve Main Street Loan Facilities: An Alternative for Small and Medium Sized Businesses
On April 9, 2020, the Federal Reserve released term sheets for two Main Street Lending Programs with a combined size of up to $600 billion to assist small and medium sized businesses impacted by the COVID-19 pandemic.
Click here to read the alert.
April 13 2020
Client Alert: Deferral of Social Security Tax Payments Available for Employers Obtaining PPP Loans
The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) permits all employers to defer the payment of their share of social security taxes during the period of March 27, 2020 through December 31, 2020. Last week the IRS released guidance in the form of FAQs on this topic.
Click here to read the alert.
April 09 2020
Client Alert: Families First Coronavirus Response Act Documentation & Recordkeeping Requirements
As previously reported in our Client Alert of March 30, Federal CARES Stimulus Relief Package Forgivable Loan Program & Business Tax Relief, the Families First Coronavirus Response Act (FFCRA) requires employers with fewer than 500 employees provide emergency paid sick leave and emergency paid FMLA leave for COVID-19 related reasons. Employers are eligible to recover the cost of such paid leave by claiming refundable tax credits.
Click here to read the alert.
April 07 2020
Client Alert: Assembly Bill A-10226
The New York State Assembly has introduced a bill (A-10226) “requiring certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic.” Assembly Bill A-10226 would require every property policy providing business interruption and loss of use coverage to include among the policy’s covered perils coverage for business interruption during the COVID-19 declared state emergency.
Click here to read the alert.