 In this presentation, we will take a look at the minimum wage and the concept of non-exempt employees as it relates to minimum wage and overtime. First, we'll start off with the concept of the non-exempt employees under the Fair Labor Standards Act. One of the major things we want to note under the non-exempt employees is that they will typically be subject then to overtime and minimum wage. So these of course will be huge factors when we calculate the payroll. Now note that when we're talking about exempt employees, we're again talking about those employees that will be mainly salaried employees, typically employees that make more money, typically employees that have more control over the jobs that they do and the way that they perform those jobs, as well as the negotiation for the job. It's presumed that the non-exempt employees may be in a situation where they have less ability for negotiation possibilities given they don't have as many options and therefore may be needing more necessity for laws like the Fair Labor Standards Act to mandate things like minimum wage and overtime. Now this Fair Labor Standards Act is a federal law and therefore in order for it to apply to states and apply across states, it typically needs to be for firms that are engaged in interstate commerce. In other words, to qualify as a federal law or for a company to be subject to the Fair Labor Standards Act, typically it needs to be involved in interstate commerce, meaning commerce between states. And because of the idea that the federal government needs to have regulations to facilitate commerce and have equal type of standards between states in order to facilitate equal trade, another exception would be for businesses with less than 500,000 annual. So these are going to be big factors then in terms of the calculations of payroll. They seem pretty straightforward, but calculations such as overtime, although not very complex, can add to complexity as we do it over multiple employees. Also note that the concept of the minimum wage when given the federal concept of the minimum wage, if applicable when applicable, will then be the floor. So if we go to state law then it's quite possible that many states might have a minimum wage of their own which would have to be at the floor which wouldn't do anything, except in cases possibly where it would have to be more more reaching in cases where the Fair Labor Standards Act would not be, but it could be higher. So the minimum wage can be higher for state policy as well. So we really need to know both the minimum wage from a federal standpoint, where it applies, and then the state standpoint, but the concept of calculating minimum wage once we have one in place will be fairly straightforward. And that will be that it will typically be one and a half times the normal wage. So we'll take a look at that calculation in a second here. So then we have the Fair Labor Standards Act as it applies to tips. Now when we put these minimum wage type of applications in place, it seems fairly straightforward, but we know that there's going to be some concepts, some ideas, some pays formats that we don't want to really discourage, but that can be difficult when we have some non normal or non standard types of wages. For example, tips. So tips is something that makes it a little bit more difficult to calculate the minimum wage. How should we account for the tip? Currently, the 2.13 is the minimum wage for tipped employees. The idea being that if we have the minimum of 2.13, we can then allow the tips and the tips should bring the wages up to the minimum. If they're not, if it doesn't bring it up to the minimum, then they're going to have a problem in terms of still being under the minimum wage. So that's just that. We won't go over to the numbers. These numbers can change as laws change. Of course, the minimum wage can change and the tip rate will change, but the concept will be much the same. And we can imagine, of course, some people that get tips are going to get a lot of tips and make well over the minimum wage in tips. And others may not be making enough for the minimum wage with tips. And so the law that wants to be put in place is one in which we want to make sure that the minimum wage is there, but we don't want to discourage the practice of tips because the practice of tips can be very profitable for many workers out there in many industries. Hours in a year calculation. It can be useful for us to make comparisons between salaried employees and hourly employees and to be able to see some comparisons between the two. And it can be useful and to do that to see how many hours are worked within a year. So that type of calculation would be something like this. If we're saying that there's 40 hours per week worked. And then we need to know that there's 52 weeks in the year. So a standard 40 hour work week times 52 weeks within the year would give us total hours in the year of 2080. So calculations like this can be useful. Also note, of course, that if the agreement had something other than a 40 hour work week, then we would just take whatever hours we're being given. So if it's a 32 hour work week, we take the 32 times the 52 weeks and we get the total hours in a year. Very productive payroll paid off. Goodbye.