Legislation introduced last week would massively increase the 100 percent employer-financed unemployment insurance (UI) weekly maximum benefit amount and dependent allowance. It would also compensate those harmed by false fraud allegations. These changes could more than double an employer’s maximum exposure for a former employee, increasing potential benefit charges from $7,840 to $14,060 per claimant. While not contemplated by the legislation, there is no doubt that this legislation would lead to sharp UI tax increases on employers.
Tax Policy & Finance
True or False: The minimum wage for Michigan employees is $8.90 per hour.
For most employees working in Michigan, it is true that the 2017 minimum wage is $8.90 per hour. However, it is false for some employees:
We are often asked what Interchange Optimization really means and the impact it has on a company’s bottom line. The answer is complex, but at its core, Interchange Optimization is based on industry-specific program requirements that were created by the card brands (Visa, MasterCard, Discover, AMEX).
True or False: Overtime hours must be paid at a rate of at least 1½ times the regular rate of pay. If you said “true” you are correct. However, do you know what the “regular rate of pay” is and how to calculate payment for overtime hours?
The United States Department of Labor (DOL) Final Regulations, changing the minimum salary requirements for exempt salaried executive, administrative, professional, and computer employees, go into effect on December 1, 2016. December 1 is the deadline. There is no grace period.
Earlier this year the Michigan Court of Appeals issued a published opinion holding that a unitary business group control test is met through indirect ownership but not through attributed or constructive ownership.
With all the media coverage of federal and state minimum wage laws, do you know if the above statement is true or false? It is true: for most employees working in Michigan, the 2016 minimum wage is $8.50 per hour.
However, it is false for some employees:
Tipped Employees: The employer is not required to pay minimum wage to tipped employees if all of these apply:
Not knowing the Fair Labor Standards Act (FLSA) rules can cost you more money in addition to back pay. This is a lesson learned the hard way by the employer in Souryavong v. Lackawanna County, 2016 BL 26447 (MD PA 2016).