As part of the loan review process, the SBA is providing a Loan Necessity Questionnaire (“Questionnaire”) to lenders for them to distribute to PPP borrowers that, together with their affiliates, received loans of $2 million or more.Borrowers that are requested to complete the Questionnaire should return it to their lender within 10 business days of receipt. The information that borrowers provide on the Questionnaire will help the SBA assess the borrowers’ certification in their [...]

 • Please be advised that the below information is guidance from the CDC; you should continue following the quarantine rules of your local or state health department. More information on Broome County and New York rules is available here: https://www.gobroomecounty.com/hd/coronavirus/faq; https://forward.ny.gov/; https://coronavirus.health.ny.gov/home • On December 2, 2020, the CDC updated its guidance on when to quarantine if you might have been exposed to COVID-19, including [...]

On April 30, 2020, Notice 2020-32 was issued, which stated that expenses paid for by Paycheck Protection Program (“PPP”) loan funds that are forgiven are not deductible for tax purposes.  Since the issuance of Notice 2020-32, many wondered whether a taxpayer that received a PPP loan and paid otherwise deductible expenses can deduct those expenses in the tax year in which the expenses were paid or incurred if, at the end of that tax year, the taxpayer has not received a [...]

Levene Gouldin & Thompson, LLP, has been named a Tier 1 “Best Law Firm” in Binghamton for seven of its practice areas by US News - Best Lawyers® "Best Law Firms" in 2021. LG&T received Tier 1 rankings in the following areas: Business Organizations (including LLCS and Partnerships); Commercial Litigation; Elder Law; Litigation - Labor & Employment; Medical Malpractice Law - Defendants; Real Estate Law; and Trust & Estates Law. LG&T received a Tier 2 ranking [...]

The CDC recently updated its definition of “close contact.”  Previously, the CDC defined “close contact” as being within 6 feet of an infected person for 15 consecutive minutes. Now, the CDC defines it as being “within 6 feet of an infected person for a cumulative total of 15 minutes or more over a 24-hour period starting from 2 days before illness onset (or, for asymptomatic patients, 2 days prior to test specimen collection) until the time the patient is [...]