Labor & HR Committee Update
December 9, 2013

Staff Contact: Frank Kerbein

New Exempt Minimum Salary Requirements

For years, New York State has required a different Exempt employee minimum salary requirement than the federal government’s $455 per week. Since July 2009, it has been $543.75 per week but it will change on December 31st as the state’s minimum wage rises to $8.00 per hour.

So, for your New York State Executive, Administrative and Professional Exempt classified employees, be sure to meet the new state schedule of minimum salary requirements as follows:

$600.00 per week on December 31, 2013;

$656.25 per week on December 31, 2014; and

$675.00 per week on December 31, 2015

These new salary levels can be seen on page 142-9 of the Miscellaneous Industries and Occupations Wage Order.

Seminar: Critical Issues in Labor and Employment Law

Join Business Council member, Harris Beach, PLLC on Thursday, December 12, 2013 from 9:00 a.m. – 11:30 a.m.at The Desmond Hotel and Conference Center in Albany for the seminar and discussion, Critical Issues in Labor and Employment Law: What You Need to Know.  Heather C. Briccetti, Esq., President and CEO of The Business Council of New York State, Inc., will introduce the session.  

Topics include:

For more information, click here.  If you are interested in attending, please respond by Thursday, December 5, 2013 to Jenn Jones at jjones@harrisbeach.com or call 1-800-685-1429 x1112. HRCI credit pending.

Transportation/Commuting proposal feedback sought

The Business Council has been contacted about an upcoming proposal concerning tax credits for employers who create a federal Qualified Transportation Fringe Benefit pre-tax program for its employees. We’ve been asked to provide feedback on the proposal and I invite you to contact me with any thoughts or suggestions.

Under current IRS rules, employers may set up a Qualified Transportation Fringe Benefit pre-tax program for employees from which employees can pay for transit passes, qualified parking and qualified bicycle commuting expenses incurred during the year.

For a clearer picture, here are some definitions:

The proposal will allow an employer that sets up a new federal QTFB pre-tax program for its employees to claim a $50 state tax credit for each employee who participates in the program in the year the employer establishes the program. The maximum credit for an individual employer would be $50,000 while the aggregate maximum statewide would be $5 million annually.

For New York State private employers, this would be a one-time tax credit opportunity in the year in which the program is set up.