Eligible Census Tract Determinations for the New York Historic Rehabilitation Tax Credit

The New York State Department of Taxation & Finance (“DTF”) issued an advisory opinion TSB-A-20(2)C,(1)I regarding the determination of whether an historic rehabilitation project is located in a census tract eligible for New York’s historic rehabilitation tax credit. DTF determined that a determination of eligibility by New York State Office of Parks, Recreation and Historic Preservation (OPRHP) […]

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SBA Releases Paycheck Protection Program Forgiveness Application

SBA has released the Paycheck Protection Program Loan Forgiveness Application — available here. Costs Eligible for Forgiveness The application provides the following instructions: Eligible payroll costs. Payroll costs paid and payroll costs incurred during the eight-week (56-day) Covered Period (or Alternative Payroll Covered Period) (“payroll costs”). Payroll costs are considered paid on the day that […]

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Update To Regional Re-Opening

The May 12th update to the Regional COVID-19 Metrics shows that four regions are now eligible to open on May 15th: Finger Lakes Mohawk Valley North Country Southern Tier Central New York Region inched closer to meeting the minimum COVID-19 testing rate (30 per 1,000 residents per month).

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Reopening New York

Today Governor Cuomo alerted everyone that re-opening New York will start on Friday. It was nice that the Governor selected a photo of Skaneateles Lake in the summer. The docks are ready! Each region should prepare for the re-opening. Ready to open means the number of hospitalizations and infection rates are declining and that a […]

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An Update to New York’s Regional Re-Opening Plan

Governor Cuomo outlined new criteria for regional re-opening today. Per his comments and a release by the Governor’s office, the State will monitor four core factors in determining if a region can re-open. A region must have: 1. 14 days of decline in total net hospitalizations (on a 3-day rolling average). In regions with few […]

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Save Small Business Fund

The U.S. Chamber of Commerce is rolling out an interesting new program for small employers. The program offers $5,000 grants to small businesses (employing between 3 and 20 people), located in an economically distressed community, and that has been harmed by the COVID-19 pandemic. The application is coming out on April 20, 2020. It appears […]

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CARES Act – Employee Retention Credit

Section 2301 of the CARES Act provides for a refundable credit against employment taxes equal to 50 percent of the qualified wages with respect to each employee. There are numerous limitations and definitions that limit the scope and eligibility for the credit. However, for certain employers impacted significantly by COVID-19 shutdowns and who are maintaining […]

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Prevailing Wages for Publicly Subsidized Projects in New York

The FY2021 New York State Budget adopts provisions requiring prevailing wages on certain construction projects receiving public benefits. The law, codified at Section 224-a of the Labor Law, applies to construction work on projects with total construction costs over $5 million with public funds providing at least thirty percent of the total construction costs. If […]

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