Entrepreneurs looking to incorporate in New York City are likely taking comfort in the Big Apple's relatively strong emergence from the national economic recession. The city's unemployment rate has been steadily falling in recent months, while thousands of private sectors jobs have been created. Additionally, the region's bustling tech and startup scene only compounds the activity.
However, a number of regulations passed in 2010 are expected to begin affecting small businesses in 2011 - laws that New York, in particular, should pay attention to. Writing for FindLaw's "Free Enterprise" blog, Jason Beahm provides some examples.
Regarding tax regulations, small businesses will be able to offset 100 percent of their capital investments, while a separate provision will provide business owners with an extension on certain tax incentives that expired at the end of 2010.
Recently passed healthcare reform is also expected to see greater implementation through 2011, as small employers will be awarded tax credits in exchange for purchasing health insurance for their employees.
What's more, the Federal Trade Commission is expected to make key rulings regarding internet and consumer privacy, as a result of growing concern over private firms' and marketers' abilities to track web users' traffic, search and visit activity.
While most expect 2011 to be a year of economic rebound, it is important that small businesses in New York City and elsewhere are aware of the new laws and regulatory initiatives.
Tags : business licenses & permits, ny, small business management, taxes
Posted: Jan 6th, 2011