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New laws coming to NY, NJ and CT in 2018

With the new year comes new laws in the tri-state and it could affect how much you make, where you can buy e-cigarettes, how much taxes you pay and more.

Here’s a list of some of the new laws and regulations coming to New York, New Jersey and Connecticut in 2018:

NEW YORK

Minimum wage

  • The second planned increase will go into effect on Dec. 31. In New York City, that’ll bring the minimum wage to $13/hour for employees at companies that have 11 or more workers.

Paid family leave

  • Most employees in New York state will be eligible for paid family leave starting Jan. 1, to bond with a new child — biological, adopted or fostered, care for a relative with a serious health condition or help loved ones when a family member is deployed on active military duty.
  • The benefits will be phased in over four years. In 2018, New Yorkers can take up to 8 weeks of paid family leave and receive 50 percent of their average weekly wage. That’ll grow to a benefit 12 weeks at 67 percent of average weekly wage, available in 2021.

E-cigarette regulations

  • The number of e-cigarette retailers in New York City will be capped at half the current number, and anyone who sells e-cigarettes will have to hold a license similar to what’s needed to sell regular cigarettes.

New tobacco rules

  • Pharmacies and retail stores that contain pharmacies will no longer be allowed to sell tobacco products in the five boroughs, starting on Feb. 24, 2018.

NEW JERSEY

Minimum wage hike

  • The statewide minimum wage will increase from $8.44 to $8.60.

Sales tax decreases

Goodbye, estate tax

  • After the first of the year, the estate tax will no longer be imposed on the transfers of a deceased New Jersey resident’s estate. In 2017, the exemption was increased from $675,000 to $2 million, and will be eliminated all together in 2018.

CONNECTICUT

Metro-North fare hike

  • A 1 percent fare hike will go into effect for riders traveling on the New Haven Line between stations within Connecticut and between Connecticut and New York stations.

NATIONWIDE

New tax laws

  • The Republicans’ historic overhaul of the nation’s tax law won’t affect how you file in April 2018, but it will affect your money in the new year.
  • Changes have been made to individual and corporate tax rates, the standard deduction has been essentially doubled, and state and local tax deductions are now capped.
  • Click here for 34 things you need to know about the incoming tax law.