In order to position oneself to reach the highest level of success and benefits available from starting your own business, it is important to begin with a solid foundation.
Last week, New York State became the fourth jurisdiction to outlaw discriminatory employment practices against internship applicants and unpaid interns. By amending New York Human Rights Law, the Act, signed into law by Governor Andrew Cuomo, prevents employers from harassing, discriminating, and retaliating against interns, even if their positions are unpaid.
On Monday, June 30th, a divided Supreme Court ruled that closely-held, for-profit corporations are not legally obligated to provide contraception coverage to their female employees. Initially, the case began when Hobby Lobby, a Christian-owned craft supply chain, and Conestoga Wood, a Pennsylvania-based and Mennonite family-owned wood manufacturer, decided to challenge the contraception mandate included in the Affordable Care Act.
During the summer months, thousands of college students and recent graduates flock to companies and organizations for internships in the hopes of bolstering their resumes. About half of these positions do not offer the students any compensation.
Towards the end of December, 2013, the Governor signed the “New York Non-Profit Revitalization Act of 2013” which contains a number of changes primarily to the Not-for-Profit Corporation Law most of which become effective July 1st of this year. Changes to the law can impact your company based on a number of different factors, such as its size and purpose. The following are some highlights that may affect your company.
When companies downsize, they rely on severance agreements to shield themselves from the threat of lawsuits. Among other legal components, severance contracts typically include a general release of claims, a non disparagement clause, and a covenant not to sue. By agreeing not to sue their former employer, the departing individual receives money and/or other benefits.
When starting a business you will face many choices, one of which is the form of entity to be used. Choosing the best entity involves many considerations including limited liability, partnership issues, public perceptions and tax considerations. The considerations for each business are different and must be evaluated in order to reach the best decision. What might be best for a lemonade stand probably would not be best for a machine shop. The possibilities include:
The licensing process in New York State is time-consuming, complex and paper intensive. While you may be able to maneuver through the process on your own, an experienced and knowledgeable attorney can ensure the application is complete, and in certain cases, provide a certification that may help expedite the process. More importantly, however, retaining an experienced attorney frees you up to handle the other details of getting your establishment up and running.
The Affordable Care Act, often referred to as “Obamacare,” has caused a great deal of confusion since enacted on March 23, 2010. We have put together the following information in an effort to relieve some of the uncertainty surrounding this health care reform, and to hopefully ease the inevitable anxiety many of our clients will face in the coming months.
In the course of my practice, when clients are starting a business or changing their current business structure, they ask which entity is better for their needs, an S-Corporation or an LLC. While both entities share similar qualities, they also have distinct differences. A client should review the pros and cons of each entity prior to deciding.