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Money

14 States Increase Minimum Wage in 2014


2014 brings minimum wage increases to workers in 14 states.  Currently, the federal minimum wage rate is set at $7.25 per hour. The table below provides a summary of the new minimum wage rates in states that enacted changes for 2014. All wages listed are on a per hour basis.

In states where the state minimum wage is set below the federal minimum, workers must be paid at or above the federal rate. In states where the state minimum wage exceeds the federal minimum, the state rate prevails. Tipped employee rates are set differently because employers may apply a tip credit to wage rates unless prohibited by state law. The BenefitMall Q4 2013 issue of Insights & Innovations provides and explanation of the guidelines for paying tipped employees.

A complete list of state minimum wages is included in the 2014 Payroll Tax and Compliance Guide available for download from the BenefitMall Year-End Central Web page.

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