FLSA and Corporate Transparency Act
CHANGES TO FAIR LABOR STANDARDS ACT (FLSA)An update to our Announcement on June 5th, 2024Exempt Worker Salary Thresholds:In June, we announced updates to the Department of Labor’s (DOL) new rule increasing the minimum salary requirements for exempt employees under the FLSA. These changes aimed to extend overtime protections to more lower-paid salaried workers.White-Collar Exemption (such as administrators, managers, and teachers):July 1, 2024: Minimum salary increased to $844 per week ($43,888 annually).January 1, 2025: Minimum salary was set to increase to $1,128 per week ($58,656 annually).Highly Compensated Employee Exemption:July 1, 2024: Minimum salary increased to $132,964 per year, including [...]