For many medium-to-small sized organizations, managing the myriad of federal compliance regulations is a top challenge. In fact, a recent Paycor survey found that 42% of organizations have negative feelings about their compliance management practices. In most instances, compliance management falls squarely on HR’s shoulders, and with limited resources and understaffed departments, keeping up with the many changes that continue to impact the current landscape is a tall task. That challenge is becoming even more daunting with the recent rise in local and state mandates for regulations like paid sick leave, state tax changes, pay equity laws and minimum wage increases.
On January 1, 2018, eighteen states across the country increased minimum wage requirements for workers. Alaska, Florida, Minnesota, Missouri, Montana, New Jersey, Ohio and South Dakota raised their rates based on cost of living, while eleven states, including Arizona, California, Colorado, Hawaii, Maine, Michigan, New York, Rhode Island, Vermont and Washington, raised their rates because of previously approved legislation or ballot initiatives.
To ensure your organization is aware of the latest minimum wage requirements, Paycor has created a breakdown by state.
|Alabama||$7.25 (Federal, no state minimum)|
|Washington D.C.||$12.50 (set to increase on 7/1/18 to $13.25)|
|Georgia||$5.15 (Employers subject to Fair Labor Standards Act must pay the federal minimum wage.)|
|Louisiana||$7.25 (Federal, no state minimum)|
|Mississippi||$7.25 (Federal, no state minimum)|
|New Hampshire||$7.25 (Federal, no state minimum)|
|South Carolina||$7.25 (Federal, no state minimum)|
|Tennessee||$7.25 (Federal, no state minimum)|
|Wyoming||$5.15 (Employers subject to Fair Labor Standards Act must pay the federal minimum wage.)|
For nearly 30 years, Paycor has been guiding our clients through big changes to federal, state, and local taxes as well as compliance. We do it through a combination of expert advice and smart, automatically updated payroll software.
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Have questions regarding the new changes? Your Paycor team is here to help. If you have any concerns, reach out to your Paycor support team.
Paycor is not a legal, tax, benefit, accounting or investment advisor. All communication from Paycor should be confirmed by your company’s legal, tax, benefit, accounting or investment advisor before making any decisions.