August 16, 2008
Special Rules for Owners Under the Fair Labor Standards Act
Filed under: News
Vision Payroll

Under the Fair Labor Standards Act (FLSA), employees must be paid a minimum hourly wage and an overtime premium of one and one-half times the regular rate of pay for hours worked in excess of forty per week. This is the one of a continuing series that discusses FLSA exemptions. The executive exemption allows employees who qualify as “executives” to be exempted from both minimum wage and overtime requirements. An earlier post listed four tests that if met would qualify an employee as an executive. Alternatively, any employee who owns a twenty percent or more equity interest in his place of employment and is actively involved in its management will qualify for the executive exemption.


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