News
FLSA Alert: Overtime Rule Struck Down
FLSA Overtime Exemption Rule Struck DownA federal district court struck down the US Department of Labor’s 2024 rule increasing the minimum salary required for overtime exemptions under the Fair Labor Standards Act (FLSA) on November 15. History:The 2024 rule increased the minimum salary required for exempt status under the administrative, executive, and professional exemptions.The ruling had three stages:Increase exempt salaries to $43,888 effective July, 1 2024Increase exempt salaries to $58,656
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Corporate Transparency Act Shut Down - What Small Businesses Need to Know
From the US Chamber of Commerce Editor's Note 1/8/25: There is currently no filing deadline for the Beneficial Ownership Information reporting requirement, which is currently on hold. As of this date, there is no requirement to file this report. Editor's Note 12/26/24: On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit paused the enforcement of the Corporate Transparency Act (CTA), thus pausing the beneficial ownership reporting requirements for U.S. small business owners. This