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.
Make sure to check both state and federal requirements. $100,000-per-year salary cap: Under the new federal rules, white-collar positions paying more than $100,000 per year are exempt from overtime pay if the worker has performed at least one duty in an executive, administrative, or professional function job.he federal rules have, in some cases, changed who in Washington State can be considered exempt from overtime. Notable differences include: Minimum salary requirement: 1  Washington's minimum salary for overtime-exempt workers is $250 per week.