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 rule will be officially published in the Federal Register on May 23. The most significant change is a doubling of the standard salary threshold for exempt employees â from $455 per week ($23,660 per year) to $913 per week ($47,476 per year). The rule takes effect on December 1, 2016. The most significant change is a doubling of the standard salary threshold for exempt employees â from $455 per week ($23,660 per year) to $913 per week ($47,476 per year).