Difference Between Debt & Liabilities by Cam Merritt; Updated September 26, 2017 In the shorthand language of business, the terms debt and liabilities get thrown around as if they're the same thing.
Posted on April 07, 2016. As you have probably heard, the Department of Labor is planning to dramatically raise the minimum salary requirement for employees to qualify as exempt under the âWhite Collar Exemptions.â As we learned on May 18, 2016, the new minimum is $47,476, which could impact nearly five million employees.
Is There Ever A Raise To The Minimum Salary Requirement? When we hear people talking about raising the minimum wage, we usually think of hourly workers. However, there is a minimum wage for most exempt employees as well. That is, in order to be considered an exempt employee, one requirement for each of the exempt catagories is a minimum salary. Whether we are talking about the administrative exemption, the executive exemption, or the professional exemption, they all share one requirement in common â a minimum wage of at least $455.00 a week, or $23,660.00 a year.