The Corporate Transparency Act (CTA) took effect on January 1, 2024, requiring many small and mid-sized businesses to file a beneficial ownership information (BOI) report with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This act is a part of the US government’s efforts to fight against illicit financial activities, such as money laundering, terrorist financing, and tax fraud …
Effective January 1, 2024, changes to Washington labor laws will take place as described below. Employers are encouraged to review applicable items and revise documents and policies based on the new …
On January 1, 2023, amendments to Washington’s Equal Pay and Opportunity Act (EPOA) will take effect. The amendments set forth certain job posting requirements as …
Washington’s Long-Term Services and Supports Trust Act (also known as WA Cares), enacted in 2019, provides affordable long-term care benefits for employees in Washington. In December 2021, premium collections under the Act were postponed to make necessary adjustments to improve the program. On January 27, 2022, Washington State Governor Inslee signed House Bills 1732 and 1733, amending …
On January 1, 2023, the premium rate for Washington’s Paid Family and Medical Leave program will be 0.8%, increasing from 0.6% in 2022. Employers will pay 27.24% of the premium and employees will pay 72.76%,slightly changing the proportion of …
Starting January 1, 2023, the Washington State minimum wage will increase to $15.74 an hour. This is up $1.25, or an 8.66% increase, from the 2022 minimum wage of $14.49 per hour. Due to the change, the 2023 salary thresholds for overtime exempt workers will also increase; specifically, …
Washington’s noncompetition law (RCW 49.62) requires employers and businesses to comply with certain requirements in imposing noncompete obligations on Washington-based employees and independent contractors. Every year the Washington Department of Labor and Industries adjusts annual earnings thresholds for inflation. Effective January 1, 2023, the thresholds will increase from $101,390 to …
Washington’s noncompetition law (RCW 49.62), which took effect in 2020, requires to meet certain conditions to impose noncompete obligations (click the links below for details). One of the conditions, the annual earnings thresholds, are adjusted annually for inflation by the Washington Department of Labor and Industries. As of 2021, the thresholds are $101,390 for employees and $253,475 for independent contractors. In 2022, these amounts will increase to $107,301.04 for employees and $268,252.59 for independent …
Beginning January 1, 2022, the Washington State’s minimum wage will be $14.49 per hour, increasing from the current minimum wage of $13.69 per hour. This increase impacts the 2022 salary thresholds for overtime exempt workers; specifically, to be exempt from overtime pay, an employee needs to be paid at least $1,014.30 per week ($52,743.60 annually). The Department of Labor and Industry announced the updated implementation schedule as follows …
[UPDATED ON 12/17/2021] Beginning January 1, 2022, employers were to collect premiums on wages of Washington employees under the Long-Term Services and Support Trust Act (see details below); however, on December 17, 2021, Governor Inslee made an announcement of delaying the premium assessment under the act. Legislators identified some areas that need to be adjusted for the program, and the premium assessment is expected to be delayed through the 2023 legislative session to allow the Legislature time to pass the policy reforms.
References: Governor Inslee announcement dated December 17, 2021
Starting January 1, 2022, the Washington Employment Security Department will collect and assess a payroll tax on wages of all Washington employees pursuant to the Long-Term Services and Supports Trust Act (the “Act”). The purpose of the Act is to provide …
[UPDATED ON 3/30/2021] On March 30, 2021 the Small Business Administration (SBA) announced that the application deadline for the Paycheck Protection Program (PPP) has been extended from March 31, 2021 to May 31, 2021 (see SBA webpage).
On January 19, 2021, the Small Business Administration (“SBA”) reopened the Paycheck Protection Program (“PPP”) to all participating PPP lenders filing loan applications for eligible borrowers under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”), which is part of the Consolidated Appropriations Act, enacted on December 27, 2020. PPP is designed to provide small businesses that are affected by the coronavirus …
Washington’s noncompetition law, RCW 49.62, took effect on January 1, 2020 (click the link below for details). Under the law, the Washington Department of Labor and Industries is required to adjust annually for inflation the dollar amounts of annual earnings of an employee and independent contractor. These amounts are the thresholds to evaluate the applicability of the noncompetition covenants on …
Effective January 1, 2021, the Washington’s minimum wage will increase to $13.69 per hour, rising from the current $13.50 per hour. Due to the change, the 2021 salary thresholds for overtime exempt workers will be modified from the projected amounts previously announced by the Department of Labor and Industries (click the link below for details); specifically, the thresholds will be $821.40 per week ($42,712 annually) for employees who work for employers with 50 or less employees, and $958.30 per week ($49,831 annually) for employees of businesses with more than 50 …
The State of Washington and the City of Seattle recently revised their respective workplace posters. These posters need to be displayed in employers’ workplaces where employees can see and read them. Employers should replace the old posters and post the revised versions as required.
[Washington]
The Department of Labor and Industries (L&I) slightly updated the contents of “Your Rights as a Worker” and changed the size to two 11-inch by 17-inch …
Please check the News about the new 2021 Paycheck Protection Program (PPP) on our website.
This article incorporates updates based on (i) the extended application deadline in response to the President signing the Paycheck Protection Program’s extension legislation on July 4, 2020 (new application deadline: August 8, 2020), (ii) the updated PPP loan forgiveness application and the new EZ version of the application published by the SBA on June 17, 2020, and (iii) the Paycheck Protection Program Flexibility Act signed on June 5, 2020.
The Small Business Administration (SBA) resumed accepting new applications for the Paycheck Protection Program (PPP) from July 6, 2020 upon the coronavirus stimulus bill and amendments being signed into law. The new application deadline is August 8, 2020. The PPP is designed to provide small businesses …
On March 24, 2021, the SBA announced that starting the week of April 6, 2021, the loan limit for the COVID-19 EIDL program will be raised from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000 (see SBA webpage). Also, on March 16, 2021, the SBA announced extended deferment periods for COVID-19 EIDL program until 2022 (see SBA webpage). Please see below for more details.
Small businesses and private, nonprofit organizations may apply for the Economic Injury Disaster Loan (EIDL) provided by the U.S. Small Business Administration (SBA). An EIDL is a long-term, low interest rate loan that purports to support small businesses …
The new Washington State law, Chapter 49.62 of the Revised Code of Washington (RCW) (Noncompetition Covenants), went into effect on January 1, 2020. The new law imposes restrictions on employers’ use of noncompetition covenants with their workers. Noncompetition covenants include written or oral covenants or agreements prohibiting or restraining an employee or independent contractor from engaging in …
The earnings thresholds and other conditions necessary to exempt employees from overtime rules will change on July 1, 2020 under the Washington Minimum Wage Act and on January 1, 2020 under the federal Fair Labor Standards Act (“FLSA”). The changes will generally affect management-level and professional employees who are considered exempt from overtime pay. The changes will also affect these employees’ rights to paid sick leave and other benefits under …
Washington Paid Family and Medical Leave Program will take effect January 1, 2019. This is an insurance program that provides insurance payments to employees when the employees take a leave to care for their family or for medical reasons. The following two steps will implement this program …
On January 1, 2018, the paid sick leave law will take effect in the State of Washington. Under the law, non-exempt employees will be entitled to one hour paid sick leave for 40 hours of work. The following chart presents a summary of the law. A similar ordinance, the paid sick and paid safe time (“PSST”), has been already in effect in the City of Seattle. The chart shows a comparison of the new Washington law versus the existing Seattle ordinance. Please use the chart to see if either is applicable to your business. …