Colorado Tipped Minimum Wage 2024. This upcoming raise is in line with the cost of living adjustments. As of january 1, 2024, the minimum wage in arizona stands at $14.35 per hour—nearly double the federal minimum.
However, the tipped minimum wage can vary in some professions. The state is not alone in its upcoming minimum wage hike.
The State Minimum Wage Will Be $14.42 In 2024, Up From $13.65 In 2023, According To Colorado’s Publication And Yearly Calculation Of Adjusted Labor Compensation Order.
Minors under the age of 18 may be paid up to 15% less then the current colorado minimum wage.
$14.42/Hour In 2024, (Rule 3) • Employees Must Be Paid At Least Minimum Wage (Whether Hourly, Salary, Commission, Piecework, Etc.) Unless Exempt • Unemancipated Minors Can Be Paid 15% Less Than Full Minimum Wage
So employers can claim a tip credit of $3.02 per hour—as long as the employee’s base wage and tips combine to equal at least the full minimum wage.
2024 Minimum Wage Rates By State Under Federal And State Laws, Employers Must Compensate.
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In Colorado, It Was $1,142 For Women And $1,312 For Men.
However, the tipped minimum wage can vary in some professions.
“The City And County Of Denver’s Local Minimum Wage Will Increase One Dollar Per Hour To $18.29 From $17.29 Beginning On January 1, 2024,” According To A Release.
So employers can claim a tip credit of $3.02 per hour—as long as the employee’s base wage and tips combine to equal at least the full minimum wage.
In This Article, We’ll Cover The Current And Historical Minimum Wage In Colorado, Discuss The Tipped Minimum Wage, And Provide Suggestions For Businesses Trying To Figure Out How To Provide Good Pay To Their Employees While Also Running Their Businesses Efficiently.