federal salary minimum wage
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ATR Analysis of Donald Trump Tax Reform Plan $7.25. The Federal Minimum Wage of $7.25 per hour is the minimum hourly pay any non-exempt worker in the United States can be paid for his work.he current Federal Minimum Wage is $7.25 per hour. If the state minimum wage in your state is higher, you are entitled to be paid the higher minimum wage rate.
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Financial Dictionary These increases (over the present rates of $8.00/hour for non-tipped employees and $2.63/hour for tipped employees) will make the minimum wage rate in Massachusetts one of the highest in the nation. The current federal minimum wage is $7.25/hour for non-tipped employees and $2.13/hour for tipped employees. All Massachusetts employers are required to comply with the Massachusetts minimum wage rate.
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Minimum wage in the United States No state minimum wage law. The minimum wage in the United States is a network of federal, state, and local laws. Employers generally must pay workers the highest minimum wage prescribed by federal, state, or summer local law. As of July 2016, the federal government mandates a nationwide minimum wage of $7.25 per hour.
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- Federal law[edit] The American federal government requires a wage of at least $2.13 per hour be paid to employees that receive at least $30 per month in tips. If wages and tips do not equal the federal minimum wage of $7.25 per hour during any pay period, the employer is required to increase cash wages to compensate.
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Minimum Wage These regulations come with exceptions, which include the following: 1  Tipped employees can receive wages of $2.13 per hour or higher as long as the hourly wage plus tips is at least the federal minimum wage. 2  Workers younger than 20 can receive wages as low as $4.25 per hour for their first 90 days of employment.
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Minimum Wage Law Requirements for Employers The Fair Minimum Wage Act of 2007 raised the federal minimum wage to $7.25 per hour effective July 24, 2009. This rate must be paid to all nonexempt employees for each hour worked up to and including 40 hours in a calendar workweek.
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- Federal minimum wage is currently $7.25 per hour, which is lower than the 2015 Colorado state minimum wage of $8.23. Therefore, based upon current information, covered employers in Colorado will have to pay their employees the higher value of $8.23 per hour under Colorado law beginning January 1, 2015.
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The Effects of a Minimum-Wage Increase on Employment and Family Income For this report, CBO examined the effects on employment and family income of two options for increasing the federal minimum wage (see the figure below): 1  A “$10.10 option” would increase the federal minimum wage from its current rate of $7.25 per hour to $10.10 per hour in three steps—in 2014, 2015, and 2016. After reaching $10.10 in 2016, the minimum wage would be adjusted annually for inflation as measured by the consumer price index.
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Minimum Wage The national minimum wage was created by Congress under the Fair Labor Standards Act (FLSA) in 1938. Congress enacted this legislation under its Constitutional grant of authority to regulate interstate commerce.he current federal minimum wage is $6.55 per hour. The laws consist primarily of federal and state statutes. When an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
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17 Numbers That Will Make You Realize Just How Pathetic The Federal Minimum Wage Is If you have a job that pays the federal minimum wage, an hour of your work is worth $7.25, before taxes. Activists and lawmakers from around the country say this amount and slightly higher state-based rates don't offer workers enough to pay for life's basics.he number of states -- not including Washington, D.C. -- that have raised the minimum wage above the federal rate. The highest state minimum wage is in Washington state, at $9.32 an hour -- still below the proposed federal minimum.
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- The Fair Labor Standards Act (FLSA) of 2007 set the federal minimum wage at $7.25 per hour. In 2011 the New Hampshire legislature passed a bill that matches the state minimum wage to the federal minimum wage. There are some exceptions to the minimum wage law for young workers and workers who receive tips.
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- Tipped minimum wage law [edit]. The American federal government requires a wage of at least $2.13 per hour be paid to employees that receive at least $30 per month in tips.If wages and tips do not equal the federal minimum wage of $7.25 per hour during any pay period, the employer is required to increase cash wages to compensate.ipped minimum wage law [edit]. The American federal government requires a wage of at least $2.13 per hour be paid to employees that receive at least $30 per month in tips.
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- 1 For work performed prior to July 24, 2007, the Federal minimum wage is $5.15 per hour. 2  For work performed from July 24, 2007 to July 23, 2008, the Federal minimum wage is $5.85 per hour.  For work performed from July 24, 2008 to July 23, 2009, the Federal minimum wage is $6.55 per hour.
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Minimum Wages Jan.1 2015: $8.10 for workers 16 and older working for employers with an annual gross receipts of at least $297,000. Workers of smaller companies, and for under 16 year olds: the federal minimum wage of $7.25. Note: The current minimum wage of $7.95 per hour applies to workers of 16 years and older working for employers who gross more than $292,000. Workers of smaller companies, and for under 16 yr olds: $7.25.
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What are the annual earnings for a full-time minimum wage worker?Minimum wage basic calculations and its impact on poverty The current federal minimum wage is $7.25 per hour. A full-time minimum wage employee earns $15,080 annually. In 2012, the poverty threshold for a single person was $11,945.For a family of four with two children it was $22,283. Since it was first instituted in 1938, the federal minimum wage has established a floor for wages. While not every worker is eligible, it provides a minimum of earnings for the lowest-paid workers.he current federal minimum wage is $7.25 per hour. A full-time minimum wage employee earns $15,080 annually. In 2012, the poverty threshold for a single person was $11,945.
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Does raising the minimum wage always result in job growth? The federal minimum wage is currently $7.25 an hour, and the White House and some congressional Democrats want to bump it up to $10.10 an hour. As of December, a majority of Americans support a raise. On Election Day, voters in Alaska, Arkansas, Nebraska and South Dakota approved state-level increases to minimum wages.
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Overtime The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). The federal minimum wage is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both.
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Wage and Hour Division (WHD) 1 FLSA Minimum Wage: The federal minimum wage is $7.25 per hour effective July 24, 2009. 2  Many states also have minimum wage laws. 3  In cases where an employee is subject to both state and federal minimum wage laws, the employee is entitled to the higher minimum wage.
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How to Go From Salary Exempt to Hourly Nonexempt Recalculate the employee's wages and inform payroll of the change from exempt to nonexempt. As of May 2012, the federal minimum wage is $7.25 per hour. Employees in salary exempt positions are required to have a weekly salary of at least $455.
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Global Minimum Wage America on $7.25 an hour. By Shannon Stapleton. Federal minimum wage in the United States currently stands at $7.25 an hour, or $1,200-1,300 per month, and hasn't been raised since 2009. Its place relative to the median wage -- less than 40 percent -- makes it one of the lowest minimum wages across OECD countries.ast year, Greece slashed the monthly minimum wage of 751 euros ($995) by 22 percent for workers 25 and older, and by 32 percent for those 24 and younger. Dimitrios brings home 4 euros per hour.
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Should Cities Have a Different Minimum Wage Than Their State? The federal minimum wage has sat at $7.25 since 2009, when it was raised from $5.15. Since then, many states have taken the task of hiking minimum-wage requirements into their own hands. These wages can vary greatly from state to state—from $5.15 in Georgia and Wyoming, to $9.47 in Washington.
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Labor Laws and Issues Minimum Wage. 1  The federal minimum wage is the minimum hourly pay for many workers. 2  The minimum wage is currently $7.25 per hour for covered nonexempt employees, effective July 24, 2009. 3  Many states and cities also have minimum wage laws. 4  Contact your State Labor Office with questions about minimum wage.
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Minimum Wages applies to workers of 16 and older working for employers with an annual gross receipts of at least $297,000. Workers of smaller companies, and for under 16 year olds: the federal minimum wage of $7.25. Increases annually upon cost of living formula.No tip credit, training wage or meal credit is allowed. The minimum pay is $4/hour for business with less than $110,000 in annual sales.ncreases annually upon cost of living formula. No tip credit, training wage or meal credit is allowed. The minimum pay is $4/hour for business with less than $110,000 in annual sales.
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How President Roosevelt tricked the Supreme Court into creating a minimum wage the federal minimum wage in the us is $ 7 25 per hour it s a topic of heavy debate while many people are pushing to crank up the minimum wage cities such as seattle have already approved a $ 15 minimum wage others believe it will reduce employment and hurt millions of workers including warren buffett
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Frequently asked questions about employee compensation and hour laws. Under federal law, an employer is allowed to pay a lower minimum wage -- only $2.13 an hour -- if the employee routinely earns at least $30 per month in tips. But the employer can do this only if the worker's wages plus tips add up to at least the minimum wage for each hour worked.