The Colorado Department of Labor and Employment announced that it has adopted Minimum Wage Order 30, which will govern minimum wages in 2014. Effective January 1, 2014, the state's minimum wage will increase from $7.78 to $8.00 per hour. For tipped employees, the minimum cash wage will increase from $4.76 to $4.98 per hour, whereas the maximum tip credit an employer may apply towards meeting its minimum wage obligation will remain $3.02 per hour.
Few states have laws requiring that the minimum wage be examined and adjusted annually. Colorado is the last of these states to announce 2014 rates that take effect on January 1st. Nevada will announce on April 1, 2014 whether its minimum wage will change on July 1, 2014.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.