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.
The current minimum salary is $33,280. Starting in July 2014, exempt employees will have to be paid an annual salary of at least $37,440 ($18 per hour), and by 2016 at least $41,600 ($20 per hour).The minimum wage increase will also impact the inside salesperson exemption from overtime under Wage Orders 4 and 7.eginning July 1, 2014, the minimum wage for California employees will rise from the current $8 per hour to $9 per hour. On January 1, 2016, the minimum wage will increase to $10 per hour.