Illinois Exempt Salary Threshold 2024
Illinois Exempt Salary Threshold 2024. New york city, nassau, suffolk, and westchester counties: The dol will likely publish a final rule in the.
The dol will likely publish a final rule in the. As of january 2024, the federal minimum salary threshold for exempt employees was $684 per week ($35,568 per year).
$1,124.20 ($58,458.40 Per Year) Local Updates:
In 2024, new labor laws in illinois will include an increase in the minimum wage to $14 and a new minimum wage of $8.40 for tipped workers.
What Are The New Labor Laws In Illinois 2024?
New york city, nassau, suffolk, and westchester counties:
Illinois Provides A Standard Personal Exemption Tax Deduction Of $ 2,625.00.
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The Salary Threshold Would Increase From The Current $684 Per Week ($35,568 Per Year) To $1,059 Per Week ($55,068 Per Year)—A 55% Increase From The Current Level.
The proposal would also increase the threshold salary for highly compensated employees from $107,432 to $143,988 per year.
The Illinois Individual Income Tax Rate Has Not.
The final rule is expected in april, 2024.