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.
And suprisingly, the DOLâs proposed rule will have an impact in California, for it significantly exceeds Californiaâs minimum salary level for exempt status: currently $720 per week, $37,440 annually, increasing on January 1, 2016 to $800 per week, $41,600 annually.xpressing the minimum salary as being at the 40 th percentile â the level at which 40% of salaried workers earn less than the amount and 60% earn more â means that the minimum salary level will change each year.