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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. 
May 21, 2024

Upcoming Changes to Overtime Exemption Salary Thresholds: What Employers 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.