The Annual Pay Notice Requirement of the New York Wage Theft Prevention Act Could Be Close to Ending
by cjleclaire
 Stephen Hans Blog
Jul 18, 2014 | 18169 views | 0 0 comments | 335 335 recommendations | email to a friend | print | permalink

Author: Stephen D. Hans

After the Wage Theft Prevention Act went into effect, restaurant owners and other types of business owners became burdened with paperwork as they complied with annual requirements. They had to provide wage notices to all employees by February 1 of every year. This was a costly and cumbersome requirement.

Recently the New York legislature passed a bill that eliminates the annual reporting requirement. The bill is sitting on Governor Cuomo's desk awaiting his signature.

Business owners must still provide wage notices when hiring a new employees and earnings statements to employees. In fact, the penalties for failing to do so are stiffened by the new bill. Here are some aspects of the new bill you should be aware of:

  • Fines for failures to provide new hires with pay notices were $50 a week and up to a maximum fine of $2,500 and they increased to $50 per week and a $5,000 maximum fine.
  • Fines for failures to provide earning statements were $100 a week with a $2,500 maximum and increased to $200 a day and up to a $5,000 maximum fine
  • Owners can no longer dissolve an business entity and create a new one to avoid penalty fees because the fees pass on to the new business entity

We understand that you do not have time to keep up with new laws that require compliance and can potentially affect your business. As employment law attorneys, we keep our clients informed and help them stay compliant with legal changes as they occur. Stephen Hans & Associates has assisted business owners with employment law compliance issues for decades, dating back to the founding of our firm in 1979.

 

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