December 19, 2016
California Minimum Wage Increases – News You Should Know
Posted by David Miller
Did you know? The California minimum wage law has been modified so that the wages will gradually increase to $15.00 by 2022. Also, for the first time, the increases are grouped by employer size.
The schedule for the California minimum wage increases for large employers is as follows:
Large employers (26 or more employees)
January 1, 2017 $10.50
January 1, 2018 $11.00
January 1, 2019 $12.00
January 1, 2020 $13.00
January 1, 2021 $14.00
January 1, 2022 $15.00
The schedule for the California minimum wage increases for small employers is as follows:
Small employers – (25 or fewer employees)
January 1, 2018 $10.50
January 1, 2019 $11.00
January 1, 2020 $12.00
January 1, 2021 $13.00
January 1, 2022 $14.00
January 1, 2023 $15.00
For more information on the California Minimum Wage changes, visit the online version of Senate Bill No. 3 to learn about the changes.
Want to learn how the upcoming changes could affect your business and how to plan? Consider contacting the Armanino Outsourced Finance and Accounting team to discuss the options for your company.
As the Partner of Outsourced Finance and Accounting services, I specialize in providing superior client service and CFO support to emerging and growing businesses in the franchise, technology, nonprofit and entertainment industries. My expertise is focused on the business needs of the client and translating those requirements into actionable financial and accounting solutions.