CBS News Boston
Owning a small business has its challenges not only from a bottom line standpoint, but also making sure to abide by the laws both federally and by the individual state. Employee laws are tweaked from time to time federally to ensure protection of workers creating a fair workplace. While there are exemptions to several laws depending on the size of the business, these guidelines will provide a basis to getting started.
Wages are important to a business especially when it comes to hiring employees that will practice the values the company holds. Invest in them, and they will invest in the business. Federal minimum wage is currently set at $7.25 for non-tipped workers, but most states mandate higher, and those laws expand what’s already currently set. Under the U.S. Fair Labor Standards Act (FLSA), the law requires minimum wage be paid if the business has $500,000 or more in sales, however, keep in mind state law may expand on that practice. Employees still have an advantage if interstate commerce is conducted and courts have opened the door even wider, even handling goods moving into the state may override the provision. Though a business may not meet those requirements, state and local laws are to be followed. Overtime is set at time and a half for working more than 40 hours.