Let's Talk Business: Missouri Minimum Wage Increases To $10.30 Per Hour On January 1


Manage episode 281495099 series 2396157
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2021 is a new year and with it comes a new set of laws, rules, and guidelines. Are you prepared? The Minimum Wage Rate in Missouri for private employers changed effective January 1, 2021. The Governor’s office announced the new rate is $10.30 per hour. All private businesses are required to pay at least the minimum hourly rate, except retail and service businesses whose annual gross sales are less than $500,000. They are still covered under the Federal Minimum Wage Law. As a result of the voter approved Proposition B in November of 2018, the minimum wage will increase 85 cents per hour each year through 2023 ultimately resulting in a minimum wage of $12 per hour in that year. Compensation for tipped employees must also total at least $10.30 per hour and employers are required to pay tipped employees at least 50 percent of the minimum wage – or $5.15 per hour, plus any amount necessary to bring the employee’s total compensation to the minimum of $10.30. Missouri law does not apply to

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