Minimum wage increases for 2024

Jan 2, 2024

State 2023 Hourly Minimum Wage 2024 Hourly Minimum Wage Effective January 1, 2024
Alaska $10.85 $11.73
Arizona $13.85 $14.35
California $15.50 $16.00
Colorado $13.65 $14.42
Connecticut $15.00 $15.69
Delaware $11.75 $13.25
Hawaii $12.00 $14.00
Illinois $13.00 for employers with >4 employees $14.00
Maine $13.80 $14.15
Maryland $12.80 for employers with <15 employees $13.25 for employers with >15 employees $15.00
Michigan $10.10 $10.33
Minnesota $8.63 for employers with <$500,000 in sales $10.59 for employers with >$500,000 in sales $8.85 for employers with <$500,000 in sales $10.85 for employers with >$500,000 in sales
Missouri $12.00 $12.30
Montana $9.95 for employers with >$110,000 in sales $4.00 for employers with <$110,000 in sales $10.30
Nebraska $10.50 for employers with >4 employees $12.00
New Jersey $14.13 $13.73 for employers with <6 employees and for seasonal employers $15.13 for employers with >6 employees
New York $15.00 for New York City, Long Island and Westchester County $14.20 for the rest of the state $16.00 for New York City, Long Island and Westchester County $15.00 for the rest of the state
Ohio $7.25 for employers with <$372,000 in annual gross receipts $10.10 for employers with >$372,000 in annual gross receipts $10.45
Rhode Island $13.00 $14.00
South Dakota $10.80 $11.20
Vermont $13.18 $13.67
Washington $15.74 $16.28

Changes for Tipped Employees

In 2024, there’s a notable shift in how tipped employees are paid in various states. For example, in Hawaii, employers can claim a tip credit of $1.25 per hour, but only if the employee’s total earnings (direct wages plus tips) are at least $7 more per hour than the minimum wage. This means that a tipped employee in Hawaii needs to earn at least $21 per hour, including a minimum of $12.75 in direct wages, to qualify for this credit. However, in states such as Alaska, California, Minnesota and Montana, employers can’t apply a tip credit and must pay the full minimum wage directly.

Subscribe via RSS

Recent News

2025 COLA Update: Impact on Affordable Housing Compliance

2025 COLA Update: Impact on Affordable Housing Compliance

The Social Security Administration (SSA) recently announced the Cost-of-Living Adjustment (COLA) for 2025 at 2.5%, the lowest adjustment since 2020 (1.3%). The average COLA increase over the past decade has been 2.6%. While this year’s adjustment is lower than 2024’s...

2024 Income Limits

2024 Income Limits

HUD has announced the 2024 income limits for the MTSP housing programs effective April 1, 2024..

HOTMA News for Private Consulting Clients

HOTMA News for Private Consulting Clients

While HUD is allowing the implementation of the regulations to be pushed until 7-1-25, Spectrum Compliance has made the decision to implement the HOTMA changes on 1-1-24.  This allows for a year of trial and error before all states mandate the changes.  We are in contact with all state agencies concerning when they expect to implement HOTMA, and many have reported it will be 1-1-24.

HOTMA – Two Key Asset Changes

HOTMA – Two Key Asset Changes

HOTMA: Section 104: Asset Limits The Final Rule of the Housing Opportunity Through Modernization Act of 2016 (HOTMA) provides some significant changes to the way managers and owners will verify and treat assets. These changes will benefit tenants, administrators and...