The Department of Labor’s new Overtime rule substantially increases business costs by doubling the salary threshold used to determine overtime eligibility. The expanded employee salary threshold will increase from $23,660 to $47,476. As of now, employers will have to be compliant with the new regulation by December 1, 2016.
If this deadline date is not delayed, thousands of small business owners will find themselves suddenly out of compliance and in jeopardy of fines and litigation.
