Federal Minimum Wage Increase

The final phased increase of the minimum wage went into effect July 24, 2009.  This was the last scheduled increase stemming from the Fair Minimum Wage Act of 2007.  The new federal minimum wage for covered non-exempt employees is $7.25 per hour.  The rate for tipped employees did not change and remains at $2.13 per hour.

Depending on the state and locality in question the rate may be higher.  The Fair Labor Standards Act, when it applies, requires the employer to pay the higher rate.  For additional information regarding this subject you can go to the Department of Labors website http://www.dol.gov/esa/WHD/ or you can contact us directly.

The information contained on this site should in no way be considered to be professional advice in the form of either tax, accounting, or legal service or consultation. You should always consult with a professional familiar with your individual circumstances before making any specific decisions related to accounting, tax, or legal matters.