Will Increased Minimum Wage Affect Your Home Business?
July 24, 2007 by Mary Emma Allen
If you have employees and pay minimum wage, you’ll definitely find yourself paying more due to the new law, going into effect today, July 24. The Fair Minimum Wage Act of 2007 begins by increasing the current $5.15 to $5.85 per hour. Then the minimum wage will increase over increments until it reaches $7.25 hourly as of July 24, 2009.
Also, states vary regarding the increments. Some will increase the minimum wage faster than decreed by the Federal Government.
If you have employees at different wage levels and at least one is at minimum wage, how do you handle the increase? Do you …read more