2019 Colorado Minimum Wage
Colorado is among 22 states that will increase minimum wage in 2019. Effective January 1, 2019, the standard hourly minimum wage in Colorado is $11.10/hr and the tipped minimum wage is $8.08/hr.
For more information about minimum wage increases nationwide, check out this Denver Post article.
Here are a couple simple steps to help prepare your business for a minimum wage increase:
- Know your cash flow: Make sure you are up-to-date on your company’s finances so you know how the increased wages may affect your business. Consider raising prices or adjusting your budget to accommodate rising expenses.
- Update payroll info: Make sure your payroll records get updated with this increase. If you’re an ASAP payroll client, we will work with you to update accordingly.
Read this Entrepreneur article for additional tips on how to manage minimum wage increases.