Exempt Salary Threshold 2024 Ny. New york employers who employ minimum wage workers should be prepared to comply with the increase beginning next year and update their budgets. Article 6 generally regulates the method and frequency of wage payments to employees.
New york employers who employ minimum wage workers should be prepared to comply with the increase beginning next year and update their budgets. The july 1 increase updates the present annual salary threshold of $35,568 based on the methodology used by the prior administration in the 2019 overtime rule update.
Similarly, The Exempt Salary Threshold For The Remainder Of The State Would Increase In 2024 From $1,064.25 Weekly (Or $55,341 Annually) To $1,124 Weekly (Or $58,500 Annually).
5572) that, effective march 13, 2024, will change the salary threshold governing various exemptions under article 6 of the new york labor law (nyll).
Under The Final Rule, The Salary Threshold For Executive, Administrative And Professional Employees Will Jump From The Current Level Of $684 Per Week ($35,568 Per Year) To $844 Per Week ($43,888 Annually) On July 1, And To $1,128 Per Week ($58,656 Annually) On January 1, 2025.
In addition, the legislation mandates minimum wage increases for 2025 and 2026 as noted below.
The Increased Executive And Administrative Employee Salary Thresholds Come As New York’s Minimum Wage Rose On January 1, 2024, To $16 Per Hour For New York.
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5572) That, Effective March 13, 2024, Will Change The Salary Threshold Governing Various Exemptions Under Article 6 Of The New York Labor Law (Nyll).
Effective january 1, 2024, the salary threshold increases:
Under The Final Rule, The Salary Threshold For Executive, Administrative And Professional Employees Will Jump From The Current Level Of $684 Per Week ($35,568 Per Year) To $844 Per Week ($43,888 Annually) On July 1, And To $1,128 Per Week ($58,656 Annually) On January 1, 2025.
The following is a comprehensive list of the 2024 exempt status salary threshold by city and state.
Effective March 13, 2024, The Salary Threshold For Certain Exemptions Under Article 6 Of The New York Labor Law (Nyll) Will Increase From $900 To $1,300 Per Week.