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Department of Labor poster notifying employees of rights under the Fair Labor Standards Act. The Fair Labor Standards Act of 1938 29 U.S.C. § 203 [1] (FLSA) is a United States labor law that creates the right to a minimum wage, and "time-and-a-half" overtime pay when people work over forty hours a week.
Being exempt from the taxes has benefits on the front end, ... This tax is 12.4%, split evenly between employers and their employees at 6.2% each. Self-employed workers are responsible for both ...
Expert analysis of the criteria for determining an employee’s exempt classification under state law. Failure to properly classify an employee can be a costly oversight for employers.
According to the FLSA, unless exempt, employees are entitled to receive overtime pay of at least "time-and-a-half", or one and one-half times normal pay, for all time worked past forty hours a week. Some exemptions to this rule apply to public service agencies or to employees who meet certain requirements in accordance to their job duties along ...
The Social Security tax is divided into 6.2% that is visible to employees (the "employee contribution") and 6.2% that is visible only to employers (the "employer's contribution"). For the years 2011 and 2012, the employee's contribution had been temporarily reduced to 4.2%, while the employer's portion remained at 6.2%, [ 38 ] but Congress ...
Tipped employees earn 60% of the minimum wage (employers may claim credit for tips, up to 40% of wage) and there is a training wage for tipped employees. Certain employees must be paid overtime, at time and one-half of the regular rate, after 40 hours of work in a workweek. [231]
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Texas – no individual income tax but imposes a franchise tax on corporations. In May 2007, the legislature modified the franchise tax by enacting a modified gross margin tax on certain businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt as were ...