Small Biz Reg Watch, vol 1, Issue 12

Dear Neighbor,

Below are this week's featured regulations.  Remember, you can always check out theARRC website for a more comprehensive list of rules and regulations from both the fedeal and state government.

As a small business owner, I know firsthand how the miles of red tape can strangle the life out of any business.  The goal of the small business regulatory watch is to make our state and federal government more transparent and business friendly.  I encourage you to speak out against any of the proposed rules and regulations you see that may adversely impact your individual business or field.

If I or my staff can ever be of help please do not hesitate to contact us.

Wishing you the best,

Dr. Terrence P. Murphy

This Week's Featured Regulations

New York State Register, Issue 29, July 22, 2015:

• Licensing and Registration of Gaming Facility Employees and Vendors

  (New York State Gaming Commission/SGC-29-15-00015-P)

  • The rule will govern the licensing and registration of gaming facility employees and vendors.

  • Public comments will be accepted for 45-days or up to September 5, 2015.   

  • Comments or further information:  Heather McArn, NYS Gaming Commission, One Broadway Center, 6th Floor, Schenectady, NY  12305. 212-383-2657,  Email: heather.mcarn@gaming.ny.gov.

Federal Register, Volume 80, Issue 141, July 23, 2015:

• Disguised Payments for Services (Internal Revenue Service/REG-115452-14-P) 

  • The proposed regulations provide guidance to partnerships and their partners regarding when an arrangement will be treated as a disguised payment for services. This document also proposes conforming modifications to the regulations governing guaranteed payments under section 707(c). Additionally, this document provides notice of proposed modifications to Rev. Procs. 93-27 and 2001-43 relating to the issuance of interests in partnership profits to service providers.

  • Send comments/submissions to CC:PA:LPD:PR (REG-115452-14), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044.  

  • Written and electronic comments and requests for public hearing must be received by October 21, 2015.

  • For further information contact:  concerning submissions of comments, Oluwafunmilayo (Funmi) Taylor (202) 517-6901; concerning the proposed regulations, Jaclyn M. Goldberg (202) 317-6850 (not toll-free numbers).