2024 is only a matter of business days away! As we embark on a new fiscal year, your small business clients may find themselves at the intersection of regulatory changes when it comes to minimum wage.
Instead of taking minimum wage questions one-by-one, you can save everybody some time by sharing our chart below with your small business clients directly. That way, you’ll leave your inbox and phone lines free to answer tax strategy and preparation questions.
Have your clients updated their labor law posters?
By law, all employers must display Wage & Hour Law posters in the workplace. These can be digitally distributed or made visible in a central location at your business. You and your clients can use our current poster solution to update workplace postings as needed!
What changes can we expect to see in January?
Let’s take a look at the minimum wage rates we will see in 2024, by state.
|
State |
Minimum Wage 2024 |
Additional Information (according to DOL) |
| Alabama | Federal: $7.25 per hour | |
| Alaska | $11.73 per hour | |
| Arizona | $14.35 per hour | |
| Arkansas | $11.00 per hour (4 or more employees) | |
| California | $16.00 per hour | |
| Colorado | $14.42 per hour | |
| Connecticut | $15.69 per hour | |
| Delaware | $13.25 per hour | Adopts federal minimum wage if greater. |
| Florida | $12.00 per hour (increasing annually) | Scheduled to reach $15.00 by September 30, 2026. |
| Georgia | $5.15 per hour (6 or more employees) | Excludes certain employment subject to federal law. |
| Hawaii | $14.00 per hour | |
| Idaho | Federal: $7.25 per hour | |
| Illinois | $14.00 per hour (4 or more employees) | |
| Indiana | Federal: $7.25 per hour | |
| Iowa | Federal: $7.25 per hour | Equals federal minimum wage if below federal rate. |
| Kansas | Federal: $7.25 per hour | Excludes employment subject to federal law. |
| Kentucky | Federal: $7.25 per hour | Adopts federal rate if greater. |
| Louisiana | Federal: $7.25 per hour | No state minimum wage law. |
| Maine | $14.15 per hour | |
| Maryland | $15.00 per hour (15 or more employees) | $12.80 per hour (Fewer than 15 employees, increasing to $15.00 in 2024) |
| Massachusetts | $15.00 per hour | |
| Michigan | $10.33 per hour | |
| Minnesota | $10.85 per hour (Large employers) | $8.63 per hour (Small employers) |
| Mississippi | Federal: $7.25 per hour | |
| Missouri | $12.00 per hour (increasing annually) | Some exemptions for certain businesses. |
| Montana | $9.95 per hour (Sales over $110,000) | $4.00 per hour (Sales $110,000 or less, adjusted annually) |
| Nebraska | $10.50 per hour (4 or more employees) | |
| Nevada | $11.25 per hour (No health insurance) | $10.25 per hour (With qualifying health insurance, increasing to $12.00 in 2024) |
| New Hampshire | Federal: $7.25 per hour | Equals federal minimum wage if below federal rate. |
| New Jersey | $15.13 per hour (increasing annually) | $12.93 per hour (Seasonal and small employers, with exceptions) |
| New Mexico | $12.00 per hour | |
| New York | $15.00 per hour (Standard) | $16.00 per hour (Long Island, Westchester, & NYC) |
| North Carolina | Federal: $7.25 per hour | |
| North Dakota | Federal: $7.25 per hour | |
| Ohio | $10.45 per hour (Gross receipts $385,000 or more) | $7.25 per hour (Gross receipts under $385,000) |
| Oklahoma | $7.25 per hour (10+ full-time employees or gross sales over $100,000) | $2.00 per hour (Adopts federal rate) |
| Oregon | $14.20 per hour (Standard) | $15.45 per hour (Portland Metro Area) |
| Pennsylvania | Federal: $7.25 per hour | The minimum wage will increase to $10.50 per hour on July 1, 2024, unless the Commonwealth issues a decree changing the amount. |
| Puerto Rico | $9.50 per hour | |
| Rhode Island | $14.00 per hour | |
| South Carolina | Federal: $7.25 per hour | |
| South Dakota | $11.20 per hour | |
| Tennessee | Federal: $7.25 per hour | |
| Texas | Federal: $7.25 per hour | Excludes certain employment subject to federal law. |
| Utah | Federal: $7.25 per hour | Excludes certain employment subject to federal law. |
| Virginia | $12.00 per hour | |
| Vermont | $13.67 per hour (2 or more employees) | Adopts federal rate if higher. |
| Washington | $16.28 per hour | |
| Wisconsin | Federal: $7.25 per hour | |
| West Virginia | $8.75 per hour (6 or more employees at one location) | |
| Wyoming | $5.15 per hour | |
| District of Columbia | $17.00 per hour |
We can help:
We understand that January is a busy time for CPAs! If your clients need additional support processing wage changes, get in touch with us. Start the new year right: focus on core services and let us take care of payroll.