We are all looking forward to 2021 and putting 2020 behind us! But the new year also brings new laws. We wanted to take a moment to remind our clients of the next installment in the Illinois scheduled minimum wage increases. Whether you’re a business owner or an individual, it is important to know what these changes look like for those receiving minimum wage.
On January 1, 2021, the minimum wage will increase from $10.00 to $11.00 per hour in Illinois. This increase will also affect the tipped employee wage rate, which is 60% of the hourly minimum wage. The tipped wage rate will increase to $6.60 per hour in January.
The minimum wage will continue to increase $1.00 per hour each January 1st until it reaches $15.00 per hour on January 1, 2025. The tipped wage rate will also continue to increase annually based on the minimum wage increase. Below is a complete list of Illinois’ scheduled minimum wage rate increases.
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 email@example.com, and they would be happy to help your business.