LIEB BLOG

Legal Analysts

Showing posts with label NYS. Show all posts
Showing posts with label NYS. Show all posts

Monday, March 25, 2024

A Win for Fairness: NYS Court Expands Discrimination Protections for Nonresidents Seeking Jobs

On March 14, 2024, New York State's Court of Appeals rendered its decision on Syeed v. Bloomberg L.P., which holds that New York City and New York State Human Rights Laws apply to nonresidents who are not yet even employed by a company in the city or state, but who are proactively seeking an actual city or state based job opportunity. 


This decision expands the protections of NY's / NYC's discrimination laws to include individuals who were denied employment based on discrimination even if said individuals were not yet residents or employees in New York State or City.


If you'd like to read the case and learn more about the court's decision, click here





Friday, January 12, 2024

Enhancing Transparency: New Law on Disclosure of LLC Beneficial Owners

On December 22, 2023 Governor Hochul signed Bill A3484A amending New York State's limited liability company law and the executive law. This new amendment will significantly transform the landscape of limited liability companies (LLCs) in New York. How will this bill accomplish this? By eradicating anonymous ownership of LLCs. 


This amendment defines beneficial ownership while also mandating the disclosure of beneficial owners upon the formation of an LLC, and publicizing this information in New York State's business entity database. 


This change to the law stems from concerns about the repercussions of anonymous corporate ownership. It highlights the misuse of anonymous LLCs for various illicit activities, including tax evasion, funding criminal organizations, money laundering, and even hindering routine code enforcement.


This legislative move aligns New York State with global efforts to foster transparency in corporate ownership. By mandating disclosure and establishing a public database, this change to the law aims to curtail illicit activities associated with anonymous ownership while protecting genuine privacy concerns through specific exemptions and waivers.


The transparency this law brings will save time, money, and resources for those suing an LLC. This will reduce unnecessary motion practices and other additional steps that had been required in order to determine who to serve when suing an LLC. 


This bill stands as a significant step towards a more transparent and accountable business landscape in New York State.


This law comes into effect on December 21, 2024, 365 days after being signed by the Governor. To learn more about Bill A3484A , click here


Tuesday, March 08, 2022

Workplace Sexual Harassment Hotline about to be Established by NYS Division of Human Rights

On March 7, 2022, the NYS Senate joined the Assembly to pass a bill (now going to the Governor to be enacted), which establishes a hotline for complainants of workplace sexual harassment. 


The Bill's Justification explains that "[n]early 75% of all sexual harassment goes unreported," and it envisions that this toll-free hotline, available, "at minimum, Monday to Friday from 9 a.m. to 5 p.m.," which will "connect complainants with experienced pro-bono attorneys who will help make them aware of their legal rights and advise them on the specifics of their individualized cases," will result in more reported claims. 


The issue with this STUPID Bill is two-fold:

  1. Who needs a toll-free line in 2022? Aren't we past the time when telephone companies charge per second of use? Don't most people utilize VoIP or cell phones? What decade is the NYS Government operating in? Have they heard of the world wide web? 
  2. Why are they referring to pro-bono (free) attorneys on a type of case where the plaintiff can recover their attorneys' fees from the plaintiff, by statute, and almost no plaintiffs pay their attorneys hourly fees? Sounds like a lipservice law to us, no?

Oh, to discourage attorneys from participating in this pro-bono stupid law, it also states that "Attorneys may not solicit, or permit employees or agents of the attorneys to solicit on the attorney's behalf, further representation of any individuals they advise through the hotline relating to discussed sexual harassment complaint." 

Once signed, this law will take effect on the 120th day thereafter and we doubt it will do a single thing to benefit victims because right now, any victim of workplace sexual harassment can and should already contact any attorney that they know of for a free consultation and if a claim is brought, the plaintiff can sue for the defendant to pay their attorneys' fees, as a matter of law.




 


Thursday, December 23, 2021

Electronic Notarization soon to be Legal in NYS, But NOT in Time for Omicron and Certainly Not Simple

Effective June 20, 2022 video and audio conferenced electronic notarizations will be legal in New York State, but why make us wait until June 20, 2022? 


The law, S1780C, was signed by the Governor on December 22, 2022, but provides its effective date is 180 after signing. So, we have to wait roughly 6 months for new Executive Law 137-a to be effective. Further, not all electronic notarizations are going to be valid with cumbersome rules being set forth in the statute and even more rules to come by the Secretary of State in the form of regulations authorized in the statute. 


The law creates a new type of notary, an Electronic Notary Public or Electronic Notary, who has registered with the Secretary of State such notary's capability of performing electronic notarial acts. Plus, the law requires this notary to "keep a copy of the recording of the video and audio conference and a notation of the type of any other identification used... for a period of at least ten years." Interestingly, electronic notarizations require the electronic notary public to be in New York State when performing the service, but the signer's location is irrelevant. 


While it seems that this law will greatly impact the ability to have wills, mortgages, and citizenship forms signed, on its face, it provides an unnecessarily complicated framework given that we've been doing simple electronic notarizations during the pandemic to much success.




Wednesday, July 03, 2019

Housing Discrimination and Facebook

On Monday, Governor Cuomo called on the Department of Financial Services to investigate reports that state-regulated advertisers are using Facebook, Inc.'s advertising platform to discriminate against protected classes.

Real estate brokers and mortgage bankers are state regulated advertisers - you are warned.

Get into compliance today before it is too late - call Lieb Compliance at 646.216.8038 for an audit, policies and trainings.



Friday, April 05, 2019

New NYC Transfer and Mansion Tax Rates | Summary of Transfer Tax Rates for NYC, Nassau, Suffolk, and Westchester Counties

On March 31, 2019, Governor Cuomo signed the New York State Budget for the 2020 Fiscal Year. Notable changes include increased real estate transfer tax rates and mansion taxes for properties in New York City and other cities with a population of over 1 million.

The new transfer tax and mansion tax rates apply only to property transfers in New York City (and other +1MM cities) after July 1, 2019, except for transfers with contracts signed on or before April 1, 2019 provided that the “date of execution of the contract is confirmed by independent evidence, such as the recording of the contract, payment of a deposit or other facts and circumstances determined by the commissioner of taxation and finance.” Transfer tax rates for counties outside New York counties remain the same.

Many writers have commented on these new rates causing much confusion as NYC has its own transfer tax separate and apart from NYS. The NYC transfer tax remains unchanged. However, the NYS transfer tax, as applicable to NYC (and other +1MM cities) has been increased. So, now NYC has two (2) transfer taxes, one (1) to the state and one (1) the city, that are each different from the majority of the rest of NYS.

NEW YORK CITY
New York State Residential Real Property Transfer Taxes apply to the following:
Residential Type 1: A transfer of economic interest in: a one- to three-family house;
  • an individual residential condominium unit; or
  • an individual cooperative apartment.
Residential Type 2: A grant, assignment, or surrender of, or the transfer of an economic interest in a leasehold interest in:
  • a one, two, or three family house; or
  • an individual dwelling unit in a home of more than three families living independently of each other.

NYC – Residential Real Property Transfers
Purchase Price
NYS Transfer Tax
NYC Transfer Tax
Mansion Tax Rate
Payor
Seller
Seller
Buyer
$1 - $500,000
0.40%
1%
N/A
$500,001 -  $1,000,000
0.40%
1.425%
N/A
$1,000,000 - $1,999,999
0.40%
1.425%
1.00%
$2,000,000 - $2,999,999
0.40%
1.425%
1.25%
$3,000,000 - $4,999,999
0.65%
1.425%
1.50%
$5,000,000 - $9,999,999
0.65%
1.425%
2.25%
$10,000,000 - $14,999,999
0.65%
1.425%
3.25%
$15,000,000 - $19,999,999
0.65%
1.425%
3.50%
$20,000,000 - $24,999,999
0.65%
1.425%
3.75%
$25,000,000 or more
0.65%
1.425%
3.90%

NYC – All Other Transfers (Multi-Use, Commercial, etc.)
Purchase Price
NYS Transfer Tax
NYC Transfer Tax
Mansion Tax Rate
Payor
Seller
Seller
Buyer
$1 - $500,000
0.40%
1.425%
N/A
$500,001 -  $1,000,000
0.40%
2.625%
N/A
$1,000,000 - $1,999,999
0.40%
2.625%
1.00%
$2,000,000 - $2,999,999
0.65%
2.625%
1.25%
$3,000,000 - $4,999,999
0.65%
2.625%
1.50%
$5,000,000 - $9,999,999
0.65%
2.625%
2.25%
$10,000,000 - $14,999,999
0.65%
2.625%
3.25%
$15,000,000 - $19,999,999
0.65%
2.625%
3.50%
$20,000,000 - $24,999,999
0.65%
2.625%
3.75%
$25,000,000 or more
0.65%
2.625%
3.90%

NASSAU COUNTY

Purchase Price
NYS Transfer Tax
Mansion Tax Rate
Payor
Seller
Buyer
$1 - $999,999
0.40%
N/A
$1,000,000 or more
0.40%
1%

SUFFOLK COUNTY

NYS Transfer Tax
Peconic Bay Transfer Tax*
Mansion Tax Rate
Payor
Seller
Buyer
Buyer
$1 - $999,999
0.40%
2%
N/A
$1,000,000 or more
0.40%
2%
1%

  *Applies to properties in Southold, East Hampton, Southampton, Riverhead, and Shelter Island and subject to exemptions

WESTCHESTER COUNTY

Purchase Price
NYS Transfer Tax
Yonkers Transfer Tax
Mt. Vernon Transfer Tax
Mansion Tax Rate
Payor
Seller
Seller
Seller
Buyer
$1 - $25,000
0.40%
N/A
N/A
N/A
$25,001 - $100,000
0.40%
1.5%
N/A
N/A
$100,001 - $999,999
0.40%
1.5%
1% after first $100,000
N/A
$1,000,000 or more
0.40%
1.5%
1%