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Governor Signs Small Business Regulatory Reform Bill
Gov. Cuomo signed A.7540-B/S.5815-C into law with some chapter amendments. The new law will allow businesses to correct a first-time regulatory violation within 15 days without paying a substantial fine as long as the violation is not overly egregious. This is a commonsense regulatory reform that will provide much-needed relief to small businesses.
Governor Delivers Veto on Bill Allowing Employees to File Liens Against Employers
Gov. Cuomo vetoed A.486-B/S.2844-B (also known as the SWEAT Act), which would have allowed an employee to file a lien against an employer’s personal or business property for a mere claim of unpaid wages. This legislation would have been incredibly detrimental to small businesses. NFIB applauds the Governor for vetoing this unnecessary and dangerous legislation.
Governor Highlights NFIB’s Small Business Tax Cuts Proposal in State of the State Address
Gov. Cuomo delivered his tenth State of the State address, where he delivered big news for small business. The Governor proposed to reduce the tax rate from 6.5 percent to 4 percent for qualified small businesses and to expand existing tax exemptions from 5 percent to 15 percent for sole proprietors and small farms. The Governor’s proposal mirrors legislation that NFIB has tirelessly advocated for over the last five years. Read NFIB’s reaction to the State of the State.
This will be a top priority for NFIB in 2020, and we will need your help to get this done! How can you help? Attend NFIB’s Small Business Day on March 10, 2020, in Albany. Click on the learn more button to register!
