July 29, 2024 Blog Employment Exempt Salary Thresholds: Pivotal Court RulingAre all employers bound by the U.S. Department of Labor’s salary threshold increase for white-collar employees? For the State of Texas, as the employer, the answer so far is a resounding “No.” But what about ot...
The salary threshold is based on the state’s minimum wage, and is not affected by any local or regional minimum wage ordinance.This all made “perfect” sense, until 2024!The two new industry sector minimum wage rates (fast food and health care) come complete with their own salary ...
To qualify as an exempt employee, the position must meet certain tests regarding its job duties and pay above a salary threshold, the amount of which can vary among different state laws. Many states have their own test to determine whether an employee can be classified as exempt fr...
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If you are a nonexempt employee whose pay is expressed as an annual salary, you can calculate any overtime pay based on your hourly wage. To find your hourly rate, divide your annual salary by 52 (the number of weeks in the year), then divide that number by the hours you are require...
If an exempt worker’s salary is below the required threshold, they lose their exemption. As non-exempt workers, they become entitled to receive at least the state’s minimum wage. They also become entitled to other legal protections, like overtime regulations and break periods. What can I ...
Whether an employee is nonexempt depends on their job duties and salary. The FLSA sets specific criteria for exemption, which include executive, professional, andadministrative rolesthat meet certain duties tests and are paid at or above a specified salary threshold. Employees who do not meet these...
‘exempt employee’ for wage-and-hour purposes, you must receive a salary of at least two times the state minimum wage for someone working 40 hours a week and meet other specific requirements. If your salary is less than $83,200 as a fast food restaurant employee starting April 1, 2024,...
Exempt employees make at least $684 a week or $35,568 annually and are usually paid a salary.1 Non-exempt employees typically make less than this amount but not always as the thresholds can differ by state. Non-exempt employees’ rights are outlined in the Fair Labor Standards Act (FLSA)...
One common type oftax-exempt incomeis interest earned on municipal bonds, which are bonds issued by states and cities to raise funds for general operations or a specific project. When a taxpayer makes interest income on municipal bonds issued in their state of residence, the profit is exempt ...