As we look towards 2023, we wanted to take a moment to remind you of the next installment in the Illinois scheduled minimum wage increases. It is important to know what these changes look like whether you are a business owner or an individual receiving minimum wage.
January 1, 2023, triggers the next scheduled increase with Illinois minimum wage rising from $12.00 to $13.00 per hour. The minimum wage will continue to increase by $1.00 per hour each January 1st until it reaches $15.00 per hour on January 1, 2025.
This scheduled increase also impacts the tipped employee wage rate, which is 60% of the hourly minimum wage. Effective January 1, 2023, the tipped wage rate will increase to $7.80 per hour and continue to increase annually based on minimum wage increases.
Below is a breakdown of Illinois’ scheduled minimum wage rate increases by year.
For further information on these increases, please visit the Illinois Department of Labor website.
Eder, Casella & Co is here to guide you through these increases to ensure that you stay compliant. Please reach out to our payroll specialists at firstname.lastname@example.org should you have any questions.