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.

Today is the beginning of Fair Housing Month. The Fair Housing Act was enacted on April 11, 1968, making it unlawful to discriminate against any person based on race, color, national origin, religion, sex, familial status, or handicap in the sale or rental of a dwelling. Although brokers must comply with the Fair Housing Act everyday, it is in the month of April that the Fair Housing Act should be commemorated.  Take Lieb School's Fair Housing Act ONLINE CE course to learn more! 

On 4/1/19 a brand new NYC law requires employers to annually train all employees and independent contractors and have a compliance protocol in place. Andrew Lieb, Esq. and Mordy Yankovich Esq share the news and explain the requirements.

The transactional real estate attorney works for the buyer or seller and NOT for the real estate broker who referred the deal. Now, attorneys are ethically prohibited from providing a copy of the contract of sale to the referring broker as a matter of course. Instead, attorneys may only provide the broker with a copy of the contract of sale after obtaining informed consent from their client.

Read the full article by Andrew Lieb, Esq. published in the Suffolk Lawyer here.

Misclassifying an employee as an independent contractor can be devastating to an employer.

Employers can potentially be liable for back wages, overtime pay, liquidated damages, attorneys' fees and additional penalties for failure to withhold applicable taxes, pay workers compensation and unemployment insurance.

Learn what happens when employers self-classify workers as independent contractors and issue them a 1099.

Review full article by Mordy Yankovich, Esq. published in The Suffolk Lawyer here.

Andrew Lieb, Esq. and Mordy Yankovich Esq. explain the line between an independent contractor and an employee and what happens when you get it wrong. Employers, learn when to get an Attorney involved when facing a payroll audit. Advising a CPA is just not enough. Learn your exposure.

Andrew Lieb, Esq. and Mordy Yankovich, Esq. clarify what employers need to know about the new NYS and NYC laws requiring sexual harassment prevention training.

Watch this clip and learn about your responsibilities and exposure.