NY Passthrough Entity Tax (PTET)

The passthrough entity tax (PTET) is an optional tax that partnerships and NY S corporations may annually elect to pay on certain income for the tax years begining on or after January 1, 2021.

The link provides Pellegrino Saccomani & Wells, CPA's, LLP presentation and additional materials.

Covid-19 Special Update: Tax relief for quarterly and annual filers sales tax vendors affected by Covid-19

If you are a quarterly or annual sales tax vendor, and you were unable to file or pay your March 20, 2020, sales tax return due to COVID-19, you may be eligible to apply to have penalty and interest waived. To determine whether you are eligible, see N-20-1, Announcement Regarding the Abatement of Penalties and Interest for Sales and Use Tax due to the Novel Coronavirus, COVID-19.

Covid-19 Special Update: What employers need to know about Covid-19 paid sick leave

Covid-19 Special Update: Worker Adjustment and Retaining Notification

The New York State Worker Adjustment and Retraining (WARN) Act requires covered businesses to provide early warnings of closures and layoffs to workers, employee representatives, the Department of Labor, and local workforce development boards. The advanced notice gives workers, their families, and communities time to transition, seek new employment, enter workforce training programs with assistance from the Department of Labor and local workforce development boards.

Covid-19 Special Update: NY Sick, Paid Family Leave

The New York State Legislature will pass, and the Governor is expected to sign, a bill that adopts two separate and distinct sick leave programs: 1) A provision that provides paid time off for employees impacted by the COVID-19 virus and; 2) A new, permanent law requiring all employers to provide sick leave to their employees.