New york is increasing the weekly salary threshold for exemption from state wage payment laws to $1,300 from $900, under a bill that will go into effect on march 13,. The standard eap salary threshold will rise from the current floor of $684 per week ($35,568 annually) to $844 per week ($43,888.
The amendment takes effect march 13, 2024. Under the final rule, the salary threshold will increase to $132,964 on july 1, 2024, and to $151,164 by jan.
If Those Numbers Hold True, The Salary Threshold For Nyc, Westchester, And Long Island Would Increase From $1,125 Weekly (Or $58,500 Annually) To $1,200 Weekly.
The nydol has set yearly increases to those thresholds for the next three years starting in 2024 as follows:
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.
That’s actually down a bit from this year’s average of about 4.3%.
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That's Actually Down A Bit From This Year's Average Of About 4.3%.
Under the updated regulations, the nydol has approved new minimum salary thresholds for the upcoming three years, with incremental increases each year.
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.
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.
