One of the most common reasons that states end up with unclaimed property is money or other property owed to former employees.
As you know, the federal Fair Labor Standards Act requires employers to pay final compensation to their employees, but it doesn’t give you a specific timetable for doing it. Many state laws (like
As mentioned in a recent FR alert, “
Louisiana is the latest State to sign a Memorandum of Understanding and join forces with the U.S. Department of Labor to combat employee misclassification. These Memorandums of Understanding with state government agencies arose as part of the U.S. Department of Labor’s Misclassification Initiative, with the goal of preventing, detecting and remedying employee misclassification. Louisiana is