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This means employers will pay
more in wages and payroll taxes
Many U.S. state legislatures are making several changes to their labor laws in 2020—including higher minimum wage rates. While the federal minimum wage rate of $7.25 has not changed since 2009, 24 states (and Washington D.C.) are upping their rates in 2020. Most changes take effect January 1, but there are a few that begin later in the year.
If you operate a business in one of these states and pay any of your employees minimum wage, you’ll need to familiarize yourself with the new laws in 2020. Also, some cities and municipalities have local minimum wage rates that are higher than the state average, so you may be subject to a different amount.