What are the laws regarding overtime pay?

Hillbilly Lily is 2 years old! asked:

Ive tried reading the laws but their are so many exceptions i dont understand it.
I work for a small family owned retail business in Michigan. I work tons of overtime but he doesnt pay time and a half for over 40 hours. Ive been working 50-55 hours a week. Is this particular business under michigan law for overtime pay?

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