In this interview with Scripps News, Attorney Andrew Lieb discusses the protections for older workers from discrimination under Federal and New York State laws. 

Key points include:

• Individuals aged 40-69 are fully protected and cannot be forced out of their positions due to age.
• Executives over 65 can be required to retire if they meet certain payment standards.
• In New York, everyone 18 and older has these protections and more.
• Companies can mandate physical or mental tests for employees if they are relevant to the job's essential functions and uniformly applied.

There is a NEW reporting requirement for business owners in 2024. 

Beneficial Ownership Information Filings

The landscape of corporate transparency in the United States has undergone significant changes with the introduction of the federal Corporate Transparency Act (CTA) in 2021, which will go hand-in-hand with specific reporting requirements set forth by New York State (NYS).  Lieb at Law is committed to guiding your business through both these mandates, ensuring full compliance without the hassle.

Federal Reporting Requirements: The Corporate Transparency Act

The CTA, a bipartisan effort aimed at combating financial crimes, mandates certain businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).

Who Must Comply?

• Domestic Reporting Companies: Corporations, LLCs, or similar entities formed by filing with a secretary of state or comparable office within any U.S. state or tribal jurisdiction.
• Foreign Reporting Companies: Entities formed under foreign laws but registered to do business in the U.S. through a similar filing process.

Key Deadlines:

• Pre-2024 Entities: Companies established or registered before January 1, 2024, must submit their initial report by January 1, 2025.
• Entities Formed or Registered in 2024: Must file within 90 days of registration or official notification.
• Post-2024 Entities: Have 30 days from notification to file their initial report.

New York State Reporting Requirements

In addition to federal mandates, NYS has set its own reporting requirements for corporate entities to further enhance transparency and combat illicit financial activities within the state. NYS's reporting requirements go into effect at the end of 2024. To learn more click here to read our blog post. 

Who Is Affected?

• All entities required to comply with the federal CTA. 
• In December of 2024, entities operating within NYS must also adhere to state-specific reporting requirements.

State-Specific Mandates Will Include:

• Additional details on beneficial ownership might be required, aligning with or expanding upon federal mandates.
• Reporting frequencies, deadlines, and procedures specific to NYS, which may differ from federal requirements.

How Lieb at Law Can Assist:

The intricacies of adhering to both federal and state reporting mandates can be daunting. The team at Lieb at Law understands the nuances of both federal and NYS mandates. We will help your business submit reports accurately to both FinCEN and NYS authorities. Reach out today to secure your peace of mind in this new era of corporate transparency. Click here for more information or email info@liebatlaw.com

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In this interview on Scripps News, Discrimination Attorney Andrew Lieb discusses a new report from the UN Human Rights Committee that spotlights ongoing discrimination faced by the LGBTQ community in the United States. Lieb analyzes the committee's concerns about discriminatory laws targeting transgender people at the state level. He also addresses issues around employment discrimination, suicide rates in the LGBTQ community, and whether legal protections for LGBTQ individuals have expanded in recent years. This important conversation provides insight into the challenges that still exist and the ongoing fight for equality.