Minimum Wage (2021) In keeping with the gradual increase in the State's minimum wage levels, the new tiered rates across the State, effective December 31, 2020, are listed below. The required minimum rate and salary varies depending upon the employer’s location and number of employees. On September 24, 2019, the U.S. Department of Labor issued its final rule raising the minimum salary for exempt employees under federal law from $23,660/year (or $455/week) to $35,568/year (or $684/week), effective January 1, 2020. Employers should be prepared for increases to the New York State minimum hourly wage for non-exempt employees and increases in the minimum salary for exempt administrative and executive employees effective December 31, 2018. The minimum exempt salary requirements for employees in New York State are based on the following schedule: As is the case with many other labor laws, New York State counties outside of the New York City metro area will see different standards when it comes to its minimum wage rate increases. This gives employers more flexibility in paying exempt employees nondiscretionary bonuses and commissions to satisfy the minimum salary requirement. Minimum Wage as of December 31, 2020. New York City, 10 or fewer employees. If the state minimum wage, the wage rate will increase on December 31, 2019. Salary threshold implementation schedule Salary thresholds for overtime exempt workers are a multiplier of state minimum wage for a 40-hour workweek 2021 Salary thresholds Small businesses: $821.40/week ($42,712.80/year) Large businesses: $958.30/week ($49,831.60/year) When the rule takes effect July 1, 2020 Jan. 1, 2021 Jan. 1, 2022 Jan. 1, 2023 However, minimum wage rates vary depending on location, employer size, and type of employer. Exempt workers in the remainder of New York State must earn at least $937.50 per week by the end of 2020. Salaried exempt employees receive a minimum wage of $455 a week or $23,600 a year, according to Fair Labor Standards Act (FLSA) laws. Smaller employers in New York City are required to pay at least $1,012.50/ week ($1,125/week after December 31, 2019). Tit. New York’s minimum salary level is quite multifaceted, varying by city, county, and business size. The New York State Department of Labor (“NYSDOL”) has adopted its previously proposed amendments to the state’s minimum wage orders to increase the salary basis threshold for executive and administrative employees (“Amendments”). The U.S. Department of Labor has issued a formal notice of proposed rulemaking increasing the salary threshold for exempt employees under the FLSA starting January 1, 2020. The minimum wage will continue to increase every year across New York State until it reaches $15.00 per hour on December 31st, 2020. New York law requires employers to pay employees overtime (1 1 / 2 times their regular rate of pay) if they work over 40 hours in a week. At the end of each of the following years, these employers will see its minimum wage rate increase to $11.10, $11.80 and finally $12.50 effective December 31, 2020. This means that the minimum salary for exempt employees in California will also be increasing annually. The final version of the Amendments contains no changes from the proposals set forth by the NYSDOL on October 19, 2016. Long Island and Westchester employers, regardless of … Prepare Now for the 2020 New York Minimum Wage. Hence employers are entitled to pay the higher state minimum wage to their employees. Read on for everything you need to know about the new ruling! In 2017, New York applied a tiered exemption system, by-region, for two of these classifications (administrative and executive), meaning different parts of the state had different salary … $15.00. The salary thresholds will increase on an annual basis, in some parts of the state, through December 31, 2021. Consequently, employers currently paying EAP-exempt employees less than $35,568 per year need to increase their salary levels or convert positions to non-exempt status for 2020. The minimum wage applies to most employees in New York, with limited exceptions including tipped employees, some student workers, and other exempt occupations.. States may also set their own salary threshold. *Note: The Department of Labor revised the regulations located at 29 C.F.R. According to the new exempt employee law that went into effect January 1, 2020, all executive, administrative, professional, computer, and outside sales exemptions require that the employee … Seyfarth Synopsis: As they have each year since 2016, the minimum wage and exempt salary threshold will increase for New York employers effective December 31, 2020.. As with minimum wage, the salary thresholds vary depending on the employer’s location and the number of employees. New York State is in the midst of increasing its salary threshold in a series of phases, which are higher than the federal threshold. The rates will increase to $54,080 and $49,920, respectively, on Jan. 1, 2020. The salary threshold is an exemption criteria that sets a minimum pay threshold below which employees must receive overtime pay. Minimum Wage (2021) In keeping with the gradual increase in the State’s minimum wage levels, the new tiered rates across the State, effective December 31, 2020, are listed below. The proposed new salary threshold is $679 per week, equivalent to $35,308 annually, paid on a salary or fee basis (the cur   The New York minimum wage was last changed in … Salary History. You are entitled to be paid the higher state minimum wage. This calculation gives us a monthly salary that is equal to twice the state minimum wage for full-time employment.⁠17. They are not paid the same hourly minimum wage that non-exempt salaried and hourly workers receive. In addition to New York’s minimum wage increase, the minimum salary that must be paid to workers classified as exempt under New York State Labor Law’s administrative and executive exemptions increased for 2020. As of December 31, 2020, the minimum wage in New York State is set at $12.50 per hour, which is higher than the federal minimum wage of $7.25 per hour. That translates to thousands of extra payroll dollars ($11,908 annually) for companies like retail, dry cleaners, restaurants, cleaning companies and lots of other businesses with traditionally lower wages. In New York City, large employers (11 or more employees) are required to pay exempt employees a minimum of $1,125.00/week. Minimum Wage in New York New York State’s Minimum Wage in 2020 is $12.50 per hour. Employees who are exempt from the FLSA’s minimum wage and overtime laws include: executive, administrative, and professional employees and some computer workers; outside salespeople such as those who do sales away from the employer’s place of business, like a door-to-door salesperson Wage orders published by the Department of Labor can modify the minimum wage rate for workers in certain industries. 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