Some bemoan Tax Day (who am I kidding, we all do), others a trip to the dentist, but for business owners in New York, it is the first day in February.
Under the cover of the 2010 holiday season and the waning days of his administration, former Governor David Paterson signed into law the notorious Wage Theft Prevention Act. A bill that sealed the deal on New York’s reputation for being anti-business.
By the end of February 1st, every employer in the state was required to have their workers read and sign documents explaining the pay they receive, and continue to provide those documents yearly. If that was not enough, businesses faced serious fines if they didn’t retain those documents for a period of six years!
Only in New York would government pass a law that assumed ALL employers were bad.
Events at the State Capitol yesterday may signal a shift in this mindset. Yesterday, the State Senate passed a bill that eliminates the annual notification requirements of the Wage Theft Prevention Act.
NFIB/NY applauds the action taken yesterday and strongly urges that the State Assembly follow suit. And perhaps…we can remove February 1st as a date New York’s business owners dread.