The company might also consider changing its handbook policies to distinguish between "exempt
" and "non-exempt" employees instead.
To be classified as exempt
, an employee must generally:
For example, in California this is accomplished by filing Form 3500A, Submission of Exemption Request, and attaching a copy of the organization's federal determination letter; North Carolina requires a tax-exempt organization to send the Department of Revenue a copy of its articles of incorporation and bylaws to demonstrate its exempt
purpose before it will grant an exemption from North Carolina income and franchise taxes.
Tax-exempt organizations, that file Form 990, Return of Organization Exempt
From Income Tax, must report in Part V of that form whether they had an interest in or signature or other authority over a foreign financial account.
lives in his mansion, which under local state law is exempt
from attachment by creditors.
In short, my partner claims we should not give her extra money, as once we do we can no longer treat her as a salaried, exempt
employee and we would have to start paying her overtime.
For example, the definition of exempt
services in Article 13 B (a) and (d) of the Sixth Directive was adopted in 1977 and thus reflects the financial services and products that were common at that time.
The interest on these bonds is not tax-exempt for federal income tax purposes (although it is usually exempt
from the issuing state or local government's income tax).
"The new regulations made a lot of changes in rules, to make it easier for employers to determine who is and who is not exempt
from overtime pay."
Ancillary joint ventures involve a limited portion of the assets or services of an exempt
The organization, along with a number of other groups, formed the Tax Exempt
Bond Recycling Coalition.
Publishers, to a person, have tended to assume, "Of course they are exempt
, they're professionals."