10/10/2026
๐ก๐๐ช ๐ฌ๐ข๐ฅ๐ ๐ฆ๐ ๐๐๐ ๐๐จ๐ฆ๐๐ก๐๐ฆ๐ฆ ๐ฅ๐๐ ๐๐ก๐๐๐ฅ
Small business owners: hereโs a New York gift certificate reminder.
New Yorkโs existing law generally requires paid, dollar-value gift certificates issued on or after December 10, 2022, to remain valid for at least nine years. Businesses generally canโt charge fees that reduce the balance, and customers may request cash for a remaining balance under $5 on a regular, single-business certificate. These rules apply to certificates whether theyโre printed or handwritten.
Thinking of closing? A qualifying closing-out or defunct-business sale doesnโt let a business change certificate terms or refuse eligible certificates presented during the sale. New York also requires businesses to report qualifying unused balances after five years of inactivity.
If you issue gift certificates, itโs a good idea to review your certificate wording and keep track of outstanding balances. For questions about your businessโs specific situation, check with your accountant or attorney.
hereโs a New York gift certificate reminder.
New Yorkโs existing law generally requires paid, dollar-value gift certificates issued on or after December 10, 2022, to remain valid for at least nine years. Businesses generally canโt charge fees that reduce the balance, and customers may request cash for a remaining balance under $5 on a regular, single-business certificate. These rules apply to certificates whether theyโre printed or handwritten.
Thinking of closing? A qualifying closing-out or defunct-business sale doesnโt let a business change certificate terms or refuse eligible certificates presented during the sale. New York also requires businesses to report qualifying unused balances after five years of inactivity.
If you issue gift certificates, itโs a good idea to review your certificate wording and keep track of outstanding balances. For questions about your businessโs specific situation, check with your accountant or attorney.
