The last quarter of the calendar year is often a time when companies are busy with planning and budgeting for the following year. Minnesota employers doing budget planning for 2018 need to keep in mind that the state minimum wage rates will be adjusted as of January 1, 2018.
- The large employer rate will move from $9.50 an hour to $9.65 an hour. Large employers are those with annual gross revenues of $500,000 or more.
- The small employer rate will move from $7.75 an hour to $7.87 an hour. Small employers are those with annual gross revenues of less than $500,000.
- The training wage rate will move from $7.75 an hour to $7.87 an hour. The training wage rate may be paid to employees younger than 20 years of age for the first 90 consecutive days of employment.
- The youth wage rate will move from $7.75 an hour to $7.87 an hour. The youth wage rate may be paid to employees younger than 18 years of age.
Date | Large Business (100 or more employees) | Small Business (Less than 100 employees) |
Jan. 1, 2018 | $10.00 | No increase |
July 1, 2018 | $11.25 | $10.25 |
July 1, 2019 | $12.25 | $11.00 |
July 1, 2020 | $13.25 | $11.75 |
July 1, 2021 | $14.25 | $12.50 |
July 1, 2022 | $15.00 | $13.50 |
2023 | Jan. 1: $15.00 indexed to inflation | July 1: $14.50 |
July 1, 2024 | $15.00 indexed to inflation | $15.00 indexed to inflation |
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