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Beyond The Numbers November – December 2009

Notice and Acknowledgement of Wage Rate and Designated Payday Hourly Rate Plus Overtime
by Jason Adler, Tax Department

Starting on October 26, 2009, New York State employers must provide newly-hired workers written notice of the rate at which they will be paid and their regular payday. The written notice must also include the employee's overtime rate of pay, if the employee qualifies for overtime. These new provisions are covered under Section 195.1 of New York Labor Law. Notice must be provided to new employees before the commencement of services.

Click here to view the notice.

The law also requires that employers obtain a written acknowledgement from employees confirming receipt of the notice. New Form LS 52 will be used for this purpose and must be signed by the employer and employee and maintained by the employer for six years.

As drafted, the form is tailored for employees who receive overtime. The Department may issue a new form for employees that do not receive overtime at a later date. Until that time, employers should modify the form for those employees as necessary. For example, for employees that do not receive overtime, employers should cross out all references to overtime pay, and can change the rate of pay from "per hour" to "per year."

 

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WHAT'S INSIDE
2010 Roth IRA Conversions - Plan Now
2010 Standard Mileage Rate Change
Extension and Expansion of the First-Time Home Buyer Tax Credit
Fixed Asset Provisions Set to Expire
Notice and Acknowledgement of Wage Rate and Designated Payday Hourly Rate Plus Overtime
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