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The Federal Minimum Wage Increases On January 1.
At the start of the year, the state minimum wage will increase from $7.30 per hour to $7.40 per hour. For tipped employees, the rate increases from $3.65 to $3.70 per hour. This increase will apply to employers who have gross income of more than $271,000 per year.
For employees at smaller companies and for 14- and 15-year-olds, the lower minimum wage of $7.25 per hour still applies. |
