Here are this week’s links to a few good stories we found and selected. We feel they might add valuable insights and perspectives for small to midsize businesses.
As we shared previously, the Department of Labor appealed the ruling of a U.S. District judge that would have more than doubled the salary level required to be paid by employers to workers who are classified as “exempt” from overtime pay.
The rule was scheduled to take effect on December 1, 2016, but it appears doubtful the Trump administration will choose to pursue the appeal. Does this mean no changes will be made? Not necessarily, according to Tim Garrett of Bass, Berry & Sims PLC. In Injunction of the DOL’s Overtime Rule and Its Appeal, Garrett explores a few potential outcomes.
Wouldn’t it be nice to work less than eight hours each workday?
How does five hours sound? According to Stephan Aarstol, who made the change at his company in 2015, it works pretty well. In A 5-Hour Day Works For This Company, Can It Work For You? he makes a pretty good case for a shortened workday. For one thing, he points to a 2012 study by the Economic Policy Institute that claims between 1973 and 2011 worker productivity grew 80% while wages grew 39%. It’s an interesting concept, and it will be interesting to see if any other businesses follow suit.
Each year, the Tax Foundation publishes a report ranking each state based on its business tax climate. For as long as I can remember, my home state of Massachusetts was referred to as “Taxachusetts.”
Does this year’s index show that the Bay State is still worthy of that moniker? Perhaps, but the comedy writers have their work cut out for them, since 23 states ranked lower. Yes, Massachusetts ranked number 27, second in New England to New Hampshire, which checked in at number seven. To review the entire list and understand the criteria used, read 2017 State Business Tax Climate Index.
