The Families First Coronavirus Response Act (FFCRA) partially sunset as of December 31, 2020. Employers are no longer required to provide FFCRA leave to employees. For New York employers, though, their responsibilities under Senate Bill 8091, which guarantees certain leave, benefits and job protections to employees affected by COVID-19, remain in full force.
With COVID-19 continuing to spread through much of the U.S., working from home has become the preferred, if not required, form of work for many employers and their employees. Entering the pandemic’s sixth month, this new work-life arrangement shows no signs of stopping anytime soon.
Working from home may trigger a host of unforeseen state tax consequences for employers and employees alike, particularly in the Northeastern U.S. where people frequently cross state lines to travel between their office and home.
One industry in particular has seen, and may continue to see, a substantial state tax benefit from remote working arrangements: hedge fund and private equity fund managers with offices located in New York City.
On Friday, June 5, Duane Morris’ New York office provided meals from Shake Shack to healthcare workers on the front lines at Mount Sinai West. This is part of our firmwide initiative Meals for Healthcare Heroes. This program is funded by donations from Duane Morris attorneys and staff and is meant to honor the Healthcare workers and support local restaurants. This is the second of 15 Meals for Healthcare Heroes events Duane Morris’ COVID-19 Strategy Team will be hosting nationwide.
On May 26, 2020, New York City Mayor Bill de Blasio signed into law NYC Council Int. No. 1932-A and NYC Council Int. No. 1914-A, which provide greater protections for commercial tenants affected by the COVID-19 pandemic.
In response to the COVID-19 pandemic, federal, state and local governments, through both legislative and executive action, have enacted or ordered a broad array of financial measures to mitigate the adverse economic effects experienced by businesses and nonprofit entities.
To read the full text of this Alert, which will identify and explain the economic programs established by the federal government, New York state and New York City to help businesses in New York that are experiencing financial loss due to COVID-19, please visit the firm website.