In early spring of 2016, Governor Cuomo of New York signed into law the 2016-2017 Budget Act (S6409C/A9009C) (“Budget Act” or”Act”). This legislation includes amendments to the New York tax reform legislation contained in the 2014-2015 New York State Budget and…
Tenant construction allowances are a common detail in commercial real estate leases. Because landlords need tenants to fill their commercial spaces, and tenants need to customize these spaces for their business, a tenant allowance is a vital lease term which…
Individuals and businesses in the State of New York are both subject to income tax. New York enacted a sweeping tax-reduction bill in 2011, creating the lowest mid-bracket tax rates in the state in 58 years. These tax breaks affected…