GNYADA June 2016 Newsletter

/QX@HRTOX AX.SDWRQSRX:KSJSXPTGQWLXOWGTPOUVTSQXTQVSXOUEXVNUVXETOOXGRULKUOOFXTQMRWUPWX;WEX3SR>6 PXJTQTJKJXEUGWXVSX ) UQXNSKRAXISRXJSPVXESR>WRPCX@OPSXUVVUMNWLXVSXVNTPXOWGTPOUVTSQXTPXVNWXRW&KTRWJWQVXVNUVXUOOXWJHOSFWRPXHRSDTLWXVEWODWXEWW>P SIXHUTLXIUJTOFXOWUDWXISRXVNWTRXWJHOSFWWPC The Director of the Budget Division and the Department of Labor set the following indexed schedule, for the minimum wage increase: # Prepare for MinimumWage and FMLA Changes

Yearly Increase

Min. Wage as of 12/31/2016

Leveling at $15 on

NYC Large Businesses (11+ employees) NYC Small Businesses (10 or fewer employees) Nassau / Suffolk / Westchester Counties

$2.00

$11.00

12/31/2018

$1.50

$10.50

12/31/2019

$1.00

$10.00

12/31/2021

$9.70

Rest of New York State

12/31/2020

$0.70

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Credit Repair Still in the AG’s Crosshairs #

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

The Newsletter • June 2016 7