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.
Some states already have similar requirements. New York and California, for example, recently increased the minimum salary for exempt status in their states to $600 and $640 per week, respectively. These amounts will rise to $675 and $800 weekly in 2016.ome states already have similar requirements. New York and California, for example, recently increased the minimum salary for exempt status in their states to $600 and $640 per week, respectively. These amounts will rise to $675 and $800 weekly in 2016.