This blog is devoted to current legal and regulatory issues affecting health care providers in New York, New Jersey and nationally. We regularly publish on topics of interest to doctors, pharmacists, hospital administrators, and everyone who is interested in the current developments in the legal landscape affecting health care delivery today.
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3. Emergency Sales Tax Letter
For businesses that need to undertake rebuilding, an emergency sales tax letter from New York City Industrial Development Authority will be available allowing businesses to avoid payment of New York City and New York State sales taxes on materials purchased for rebuilding. The Industrial Development Authority will also waive all fees and, while following State law, looking to streamline its normal procedure. This program is expected to offer economic benefits to reconstruction projects costing $500,000 or more. For more information, click here.
4. Goldman Sacks Fund to Match the New York City Fund
The Goldman Sachs Group, Inc. and Goldman Sachs Gives have donated $5 million to Hurricane Sandy clean up and recovery efforts and the firm will provide $5 million in loans to small businesses impacted by Hurricane Sandy. These small business funds will match the $5 million in New York City funding for small businesses affected by the hurricane that was announced by Mayor Bloomberg. Both the capital from Goldman Sachs, through its Urban Investment Group. and from the City will be made available through the New York Business Development Corporation (NYBDC), a non-bank lender which will then make the end-loans to the small businesses.
The funds will be loaned to businesses in Zone A and other areas where there have been power outages and severe flooding, and the funds are expected to flow to borrowers on an expedited baiss, five to seven days after application. End loans will range from $5,000 - $25,000 and will help small businesses with working capital, repairs and business interruption, among other things. For more information, click here.