Ny Salary Threshold 2024. 15, 2023, new york amended its labor code to increase the salary threshold executive, administrative, and professional (eap) employees must meet to qualify for the state’s wage payment exemptions. (new york has no salary basis or salary minimum requirement.
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). The minimum wage rate for new york city employers remains $15 per hour for all employers.
New York Salary Threshold To Increase In March 2024 For Certain Wage Protections.
Income from $ 11,700.01 :
15, 2023, New York Amended Its Labor Code To Increase The Salary Threshold Executive, Administrative, And Professional (Eap) Employees Must Meet To Qualify For The State’s Wage Payment Exemptions.
Then in addition to the minimum wage increase, the nys salary threshold for the executive and administrative exemptions also increased january 1, 2024 to $1,200 per week for those in the nyc, long island, and westchester county areas and $1,124.20 per week for employers located outside those areas.
New York Recently Raised The Minimum Salary Basis Thresholds For Executive And Administrative Employees In Order To Satisfy The Exemption From Overtime, Not To Be Confused With The Separate Upcoming Increases To Salary Threshold For The Purposes Of Pay Frequency.
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New York Governor Kathy Hochul Recently Signed Legislation ( S.b.
Beginning march 13, 2024, eap employees who earn less than $1,300 per week will be subject to the same wage payment protections as.
The Minimum Wage Increased On January 1, 2024 To $16.00 Per Hour In New York City, Westchester, And Long Island And To $15.00 Per Hour In All Other Counties In New York State.
In addition, the legislation mandates minimum wage increases for 2025 and 2026 as noted below.
Effective July 1, 2024, The Salary Threshold Will Increase To The Equivalent Of An Annual Salary Of $43,888 And Increase To $58,656 On Jan.