Labor & Employment (Small Business)

This bill creates a new tax-advantaged savings program called SAVE for small businesses with 25 or fewer employees and annual net income under $250,000. It allows these businesses to contribute up to 10% of their previous year's gross profits to the accounts and deduct those contributions from their taxes, while tax-free withdrawals are permitted during specified economic hardship periods if the funds are used for worker hiring or job retention. The program requires the state tax commissioner to establish account standards, set distribution limits during hardship periods, and report annually on the accounts' effectiveness in stabilizing businesses and creating jobs.

This bill creates a new savings program specifically for employees of small businesses in New York state to help them save money for child and dependent care. It affects employers with one to one hundred employees who have been in business for at least two years and do not currently offer a child and dependent care savings plan. The program allows employees to contribute a portion of their wages through payroll deductions, with contributions managed by the state's comptroller and labor commissioner. Employers would establish payroll systems to collect these contributions, and employees could choose their contribution amounts or opt out of the program. The bill also outlines rules for enrollment periods, contribution limits, and how employees can withdraw their savings under certain circumstances.

This bill establishes a New York State program allowing small businesses (with 1-100 employees) to offer employees a payroll-deducted savings option for child and dependent care expenses. Employees can contribute pre-tax income through their employer’s payroll system, with contributions limited to IRS Section 125/129 guidelines. Businesses must set up a payroll arrangement for employees to enroll, choose contribution amounts (as a percentage or fixed dollar amount), and allow annual enrollment changes. The program is administered by the state comptroller and labor commissioner, aiming to provide a low-cost, portable savings tool for small business employees.

This bill creates a New York state tax credit for small businesses hiring disabled workers. Small businesses with 100 or fewer employees can claim a $5,000 credit per disabled employee (up to $25,000 per business annually), provided the employee works 35+ hours weekly for six months and the employer verifies the employee meets the statutory disability definition. The credit is capped at $5 million total per year, with unused credits carried forward for up to three years. It directly affects small business employers in New York who hire eligible disabled residents, aiming to incentivize their employment through tax relief.

This bill creates a $1,500 tax credit for small businesses (with 50 or fewer employees) that hire and retain eligible immigrant workers in full-time positions for at least six months. The credit directly benefits qualifying small businesses by reducing their tax liability and supports immigrant workers seeking stable employment. Businesses claim the credit per eligible worker hired and maintained for the required six-month period. The policy change applies only to small businesses meeting the employee threshold.