In nuts from NYTimes:
Falsifying business records in New York State can be a misdemeanor. But it can be elevated to a felony if prosecutors prove that the records were falsified to conceal another crime.
In this case, there are three potential additional crimes that Mr. Bragg has accused Mr. Trump of concealing: a federal campaign finance violation, a state election-law crime and tax fraud.
The campaign crimes, prosecutors say, involve the hush-money payoffs to Ms. Daniels and Ms. McDougal. The payments, they argue, were illegal donations to Mr. Trump’s campaign.
The potential tax fraud stems from the way in which Mr. Cohen was reimbursed for his payment to Ms. Daniels.