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Library

June 21, 2024

Navigating Payroll Deductions: What Business Owners Need to Know

On July 1, 2024, the minimum salary threshold for exemption from overtime requirements will increase to $43,888 ($21.11 hourly, $844 weekly); on January 1, 2025, it will increase again to $58,656 ($28.20 hourly, $1,128 weekly). The salary thresholds will increase again on July 1, 2027, and there will be another increase every three years.