GNYADA December 2017 Newsletter

2 Year-End Compliance Reminders & Deadlines To ensure members don’t lose track of important deadlines and compliance requirements effective in late 2017 and early 2018, the Association has put together this list of helpful year-end reminders.

Vaping Banned in NYS Workplaces As of NOVEMBER 22, 2017 , dealers must prohibit the use of electronic cigarettes wherever cigarettes and other tradi- tional tobacco products are already banned. For signage purposes, the international “No Smoking” symbol is suffi- cient to alert people that e-cigarettes are banned in the dealership. NYC “Fair Workweek” Laws In Effect As of NOVEMBER 26, 2017 , retail employers in New York City must now post employees’ schedules 72 hours before the start of the shift. NYC dealers cannot change workers’ shifts with less than 72 hours’ notice, nor can they require employees to be “on call” without consent.

New York State Paid Family Leave Goes into Effect Starting JANUARY 1, 2018 , employees in New York State may start taking paid time off under the state's Paid Family Leave Benefits Law. Premiums are fully funded through employee payroll deductions. In 2018, employees will be eligible for eight weeks of paid leave at 50% of their average weekly wage, not to exceed 50% of the State’s average weekly wage. The number of paid leave weeks and salary percentage employees can receive will increase each year until 2021. To learn more about PFL requirements, see page 5. Updated Used Car Buyers Guides Dealers must fully transition to the updated version of the FTC-mandated used car Buyers Guide by JANUARY 28, 2018 . Revised guides, which prompt customers to check safercar.gov for possible open recalls and direct Spanish- speaking customers to request a Spanish version of the guide, can be purchased from the Association. Employee/Worker Tax Forms W-2 and 1099-MISC forms must be distributed to employees by JANUARY 31, 2018 . This is also the deadline for employers to submit W-2s to the Social Security Administration. Notify Cash-Customers of 8300 Form-Filing By JANUARY 31, 2018 , all customers from 2017 for whom the dealership filed Form 8300 (Report of Cash Payments over $10,000) must be notified, on dealership letterhead, that the IRS was made aware of their transaction. For more information, see page 8.

MinimumWage Increases

State Minimum Wage Rate Effective 12/31/2017

COUNTY

WAGE

NYC Employers with 11 or more Employees

$13.00

Nassau, Suffolk, and Westchester Counties

$11.00

Rockland County and the Rest of State

$10.40

To review a full chart of future scheduled minimum wage increases, region by region, visit gnyada.com/minwage . OT Exemption Threshold Increases DECEMBER 31, 2017 also marks the second scheduled increase in New York State’s “White Collar” overtime exemption threshold. The new thresholds, by region, are: “White Collar” Overtime Exemption Threshold Effective 12/31/2017 COUNTY PER WK PER YR NYC Employers with 11 or more Employees $975 $50,700 Nassau, Suffolk and Westchester Counties $825 $42,900 Rockland County and the Rest of State $780 $40,560 To review future year-by-year increases to these thresholds, visit gnyada.com/dealers/news/salary .

Prepping for Tax Season! For a rundown of year-end tax compliance issues affecting your dealership, review GNYADA’s 2017 Year-End Tax Reminders for New Car Dealers checklist, which is enclosed with this newsletter.

If you have questions concerning any of the

above compliance deadlines, please call GNYADA’s Dealer Hotline at 718.746.5900.

Greater New York Automobile Dealers Association • www.gnyada.com

The Newsletter • December 2017 3