2020 Colorado & Denver Minimum Wage
Effective January 1, 2020, the standard hourly minimum wage in Colorado is $12.00/hr and the tipped minimum wage is $8.98/hr.
The City of Denver is also increasing the minimum wage for all citywide workers in 2020: standard is $12.85/hr and tipped is $9.83/hr.
A full list of each state’s minimum wage rate can be found on the US Department of Labor’s website.
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.