Businesses of all sizes across New York State have felt the economic impact of the COVID-19 outbreak in the form of decreased business and revenue. In an attempt to reduce expenses and keep the business viable during these difficult times, many businesses have reluctantly decided to layoff or furlough a large portion of their employees. Under current New York State laws, however, this decision will have major financial implications for the business that will last long after the COVID-19 health crisis has passed in the form of steep increases to their Unemployment Insurance contributions.
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