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About NY LS 54 2024 Form

The NY LS 54 2024 form is a document utilized by individuals or businesses in New York for reporting the wages paid to their employees during a specific tax year. It is known as the Annual Summary of Wages Paid. This form is typically required by employers who have employed workers in New York State, including those who have been subject to unemployment insurance contributions, as well as those who have paid wages to individuals working for them in the state. The NY LS 54 2024 form is necessary for accurately reporting wages and fulfilling tax obligations in compliance with state laws and regulations. Employers who need to report their employees' wages to the New York State Department of Labor should use this form. It helps to ensure that accurate records of employee wages are maintained, which enables accurate tax withholdings and contributions to be made by both employers and employees.

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Instructions and Help about NY LS 54 2024 Form

Good afternoon everybody again my name is Melissa Buckley I'm a supervisor with the division of immigrant policies and affairs and welcome to a presentation regarding recent updates to labor laws as indicated if there are questions during today's presentation please enter them in the chat box, and we will do our best to provide answers here is our agenda we will discuss the minimum wage rate increases for 2021 and 2022 next we will discuss New York state COVID-19 paid sick leave including a review of frequently asked questions lastly we will discuss New York state paid sick leave including a review of frequently asked questions the current minimum wage in New York City is fifteen per hour and will stay at that rate through 2021. The minimum wage on Long Island is currently 13 per hour that rate will increase at the end of December to 14 per hour and will again increase at the end of 2021 to 15 per hour the minimum wage rate for the rest of upstate north country central and western New York is currently at 11.80 per hour it will increase at the end of December to 12.50 per hour beginning in 2021 a schedule for future minimum wage increases in upstate New York will be determined by the state budget director and the department of labor in response to the outbreak of COVID-19 in New York state governor Andrew Cuomo has guaranteed workers job protection and financial compensation in the event they or their minor dependent child are subject to a mandatory or precautionary order of quarantine or isolation issued by the state of New York the department of health local board of health or any government entity dually authorized to issue such order due to cubit 19.