How New York compares
Ranked against the other 49 states on the figures we hold. Rates that combine state and local components — sales tax, the minimum wage where it varies by region — are shown on this page but not ranked, because a single number would misstate them.
| Figure | NY | Nationally | In its region |
|---|---|---|---|
| PopulationUS Census Bureau, Vintage 2025 estimates, July 1, 2025 | 20,002,427 | 4th highest of 50 | 1 of 11 |
| GDP ($bn)Bureau of Economic Analysis, 2025 | 2468 | 3rd highest of 50 | 1 of 11 |
| Median household incomeUS Census Bureau, ACS 2024 1-year, 2024 | $85,820 | 15th highest of 50 | 7 of 11 |
| Unemployment rateBureau of Labor Statistics, LAUS (seasonally adjusted, preliminary), September 2026 | 4.3% | tied 34th lowest of 50 | 8 of 11 |
| Foreign-born shareUS Census Bureau, ACS 2024 1-year, 2024 | 23.3% | 3rd highest of 50 | 2 of 11 |
| Property tax ratechecked Nov 2026; confirm with the New York legislature | 1.40% | 39th lowest of 50 | 6 of 11 |
| Deposit return window (days)checked Nov 2026; confirm with the New York legislature | 14 | tied 1st lowest of 50 | 1 of 11 |
| Eviction notice (days)checked Nov 2026; confirm with the New York legislature | 14 | tied 6th highest of 50 | 5 of 11 |
| Final pay deadline (days)checked Nov 2026; confirm with the New York legislature | 0 | tied 1st lowest of the 29 states that set one | 1 of 7 |
- State income tax: yes41 of 50 states answer the same way
- At-will employment: yesthe same in all 50 states — it does not set New York apart
- Paid sick leave required: yes20 of 50 states answer the same way
- Paid family leave: yes12 of 50 states answer the same way
- Workers' comp required: yes49 of 50 states answer the same way
- Rent control permitted: yes4 of 50 states answer the same way
- Annual report required: yes43 of 50 states answer the same way
Statistical figures: US Census Bureau, Vintage 2025 estimates (July 1, 2025) · US Census Bureau, ACS 2024 1-year (2024) · Bureau of Economic Analysis (2025) · Bureau of Labor Statistics, LAUS (seasonally adjusted, preliminary) (September 2026) · SBA Office of Advocacy, 2025 Small Business Profiles (2025). Tax, wage, business and tenancy figures are recorded from state sources and were last checked on 2026-11-05 — confirm anything you are about to act on with the New York legislature.
What's changing in New York
Enacted changes with a fixed effective date. Contracts, payroll and leases signed now may run past these dates.
Took effect in the last 12 months
- January 1, 2026Minimum wage rose to $17.00 (NYC/LI/Westchester) and $16.00 (rest of state)/hr
No general increase on January 1, 2027: the statutory inflation "off-ramp" was triggered.
Source ↗
Checked against official sources on 2026-11-05.
How long you have in New York
The periods that decide whether something is on time. Days are calendar days unless the underlying rule says otherwise.
- Return a security deposit within
- 14 days
- Eviction notice before filing
- 14 days
- Final paycheck within
- 0 days
- LLC formation processed in
- 7 business days
- Overtime starts after
- 40 hours/week
AI Legal Insights — New York
AI-generated · Updated July 2026
New York operates under an at-will employment doctrine, though employers must strictly adhere to robust state-mandated protections such as the NY HERO Act and paid family leave. The legal landscape is further shaped by complex local regulations, particularly within New York City regarding sick leave and specific labor standards.
New York offers a massive economic engine with a GDP of over $2 trillion, supported by a diverse landscape of 2.2 million small businesses. However, entrepreneurs must account for unique costs, including a tiered minimum wage and mandatory LLC publication requirements that can significantly impact initial overhead.
With a foreign-born population of 22.8%, New York is a critical hub for international talent and immigrant-driven entrepreneurship. This demographic diversity necessitates a deep understanding of both federal immigration laws and state-specific protections for diverse workforces.
- ›Ensure compliance with varying minimum wage tiers depending on whether the work is performed in NYC/Long Island or elsewhere in the state.
- ›Include specific clauses addressing New York's mandatory paid family leave and sick leave requirements to avoid labor disputes.
- ›Account for the publication requirement in your formation budget if establishing a new LLC.
AI-generated insights · Verify with a licensed attorney before relying on this information.
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Employment Laws
New York labor regulations
New York has some of the most worker-protective labor laws in the nation. Since January 1, 2026 the minimum wage is $17.00/hr in New York City, Long Island, and Westchester and $16.00/hr in the rest of the state. There is no general increase on January 1, 2027, because the statutory inflation "off-ramp" was triggered. New York Paid Family Leave provides up to 12 weeks of paid leave, and the state paid sick leave law requires up to 40 or 56 hours a year depending on employer size.
| Law | NY Rule | Federal Floor |
|---|---|---|
| Minimum Wage | $17.00 (NYC, Long Island, Westchester); $16.00 elsewhere — since January 1, 2026; no general increase in 2027 | $7.25/hr |
| Overtime | After 40 hrs/week at 1.5× the regular rate; salary thresholds for exempt status are higher than federal | FLSA: after 40 hrs/week |
| Paid Sick Leave | 1 hr per 30 hrs worked; up to 56 hrs/yr at 100+ employees, 40 hrs paid at 5–99, 40 hrs (unpaid if net income is $1M or less) under 5 | None (federal) |
| Paid Prenatal Leave | 20 hours of paid prenatal leave per year, separate from sick leave (since January 1, 2025) | None (federal) |
| Paid Family Leave | NY PFL: up to 12 weeks at 67% of average weekly wage (capped), funded by employee payroll deductions | FMLA: 12 weeks unpaid |
| Workers Comp | Required for virtually all employers, along with short-term disability (DBL) coverage | No general federal mandate |
| At-Will Employment | Yes (with broad statutory exceptions) | Default nationwide |
| Final Paycheck | By the next regular payday | No federal requirement |
| Meal Breaks | 30-min meal period for shifts over 6 hrs that span 11 a.m.–2 p.m.; factory workers get 60 min | No federal requirement |
| Pay Transparency | Employers with 4+ employees must include a good-faith pay range in job postings (since September 2023) | No federal requirement |
- The New York State Human Rights Law prohibits discrimination based on a broad list of protected characteristics, including sexual orientation, gender identity, and pregnancy, and covers employers of all sizes.
- The NY WARN Act requires 90 days' notice (vs. 60 under federal law) for covered plant closings and mass layoffs.
- The New York City Human Rights Law adds further protections, such as limits on pre-employment credit checks and criminal history inquiries.
- New York has no statewide statutory ban on non-compete agreements; courts enforce them only when they are reasonable in scope and duration and protect a legitimate business interest.
- The NY Wage Theft Prevention Act requires written pay notices at hire and detailed pay stubs.
- Home care aides have a separate minimum wage that rises to $20.00 (NYC, Long Island, Westchester) and $19.00 (rest of state) on January 1, 2027.
- Domestic workers are covered by the Domestic Workers Bill of Rights (overtime, a day of rest, and other protections).
Sources: U.S. Department of Labor state minimum wage table · state labor agencies (checked Nov 2026)
Landlord-Tenant Laws
New York rental regulations
New York has some of the most tenant-protective housing laws in the US, anchored by the 2019 Housing Stability and Tenant Protection Act (HSTPA). Security deposits are capped at one month's rent and must be returned within 14 days with an itemized statement. New York City has rent stabilization and a smaller legacy rent control program, and the 2024 Good Cause Eviction Law covers many market-rate units in NYC and in localities that opt in.
| Topic | NY Rule |
|---|---|
| Security Deposit | Capped at 1 month's rent statewide (since the 2019 HSTPA) |
| Deposit Return | Within 14 days of move-out with an itemized statement; a landlord who fails to provide it forfeits the right to keep any part of the deposit |
| Rent Stabilization / Control | In NYC, rent stabilization generally covers buildings of 6+ units built before 1974, with annual increases set by the Rent Guidelines Board; rent control covers a small number of older units with long-term tenants |
| Eviction Notice (Non-Payment) | 14-day written rent demand before filing a non-payment case in court |
| Late Fee Cap | Only after rent is more than 5 days late; capped at $50 or 5% of the monthly rent, whichever is less |
| Application Fees | Capped at the actual cost of background and credit checks, up to $20 |
| Rent Increase / Non-Renewal Notice | Written notice of an increase of 5% or more, or of non-renewal, is required 30, 60, or 90 days in advance depending on how long the tenant has lived there |
| Good Cause Eviction | In NYC and opt-in localities, covered tenants can generally be evicted or non-renewed only for a listed cause, and unreasonable rent increases can be challenged; small landlords and newer buildings are exempt |
| Broker Fees (NYC) | Under the FARE Act (since June 11, 2025), the landlord pays the broker fee when the landlord hired the broker |
| Retaliation Protection | Landlords may not retaliate against tenants for good-faith complaints or tenant organizing |
Both landlords and tenants have enforceable rights under New York law. Document all communications and keep copies of your lease agreement. Use AI review to spot risky clauses before signing.
Starting a Business
New York LLC formation guide
New York LLCs face a unique publication requirement: within 120 days of formation, the LLC must publish a notice in two newspapers designated by the county clerk for six consecutive weeks. In New York City counties this can cost roughly $1,000–$2,000. The filing fee is $200, and a $9 biennial statement is due every two years. Corporate franchise tax rates range from 6.5% to 7.25%, and New York City imposes its own business taxes.
Step-by-step LLC formation
- 1Choose a business name — must include "LLC", "L.L.C.", or "Limited Liability Company"; check availability with the NY Department of State
- 2File Articles of Organization with the NY Department of State (DOS) — $200 fee online or by mail
- 3Designate the Secretary of State as agent for service of process (required) and optionally a registered agent
- 4Complete the publication requirement within 120 days: publish a notice in two county-designated newspapers for 6 consecutive weeks, then file a Certificate of Publication with DOS ($50 fee)
- 5Get an EIN from the IRS — free at irs.gov
- 6Register for NY state taxes with the Department of Taxation and Finance
- 7If operating in NYC, register for NYC business taxes with the NYC Department of Finance
- 8Open a business bank account using your EIN and filed Articles of Organization
- 9File a biennial statement every 2 years with DOS ($9 fee)
Every LLC also needs a free EIN from the IRS (Form SS-4). Apply online at irs.gov — takes about 15 minutes and is required to open a business bank account.
Popular IRS Forms
Most-filed federal forms for New York taxpayers
Fill these out online with plain-English guidance — every field explained, no accountant required. Download as a ready-to-file PDF when done.
The main annual federal income tax return every taxpayer files.
Fill out free →Give your SSN or EIN to a client before getting paid as a contractor.
Fill out free →Report $600+ paid to independent contractors during the year.
Fill out free →Tell your employer how much federal tax to withhold from pay.
Fill out free →Report income and expenses from a sole proprietorship or LLC.
Fill out free →Report payroll taxes withheld from employees each quarter.
Fill out free →Get an automatic 6-month extension to file your 1040.
Fill out free →The year-end wage statement employers issue to each employee.
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Federal Offices
United States government offices in New York
Walk-in assistance by appointment only. Call (844) 545-5640 to schedule, or book online at irs.gov.
Immigration appointments via my.uscis.gov or call (800) 375-5283.
Free Legal Aid
New York legal assistance organizations
These organizations provide free or reduced-cost civil legal services to qualifying New York residents.
Largest provider of free civil and criminal legal services in New York City
Statewide legal aid for low-income New Yorkers on civil matters
Free civil legal help for low-income residents across New York City's five boroughs
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