The minimum wage in Washington will increase to $11 an hour starting on Jan. 1, 2017. Since the recent election, the Department of Labor & Industries has received scores of calls asking for clarity on the details of the new law.
The new minimum wage, a result of the passage of Initiative 1433, applies to all jobs, including those in agriculture. Workers under 16 years old can be paid 85 percent of the adult minimum wage, or $9.35 per hour, in 2017. In addition to minimum wage, the initiative addresses paid sick leave.
Seattle, Tacoma, and the City of SeaTac have higher minimum wage rates for 2017. For employers in those areas, the local minimum wage rate will apply as long as it is higher than the state minimum.
The new law does not change minimum wage exemptions or regulations regarding overtime pay.
Since 1998, L&I has been responsible for calculating the state’s minimum wage each September. Under Initiative 1433, the minimum wage will increase to $13.50 by 2020. L&I will resume calculating the minimum wage for calendar years 2021 and beyond. (LNI Link)
Tax season creates additional stress on top of trying to run your business and keeping it afloat. Outsourced accounting services are always the best option for a small business as it allows experts to handle this maze of tax laws without you having to pay a full-time tax accountant.
There are many benefits to outsourcing the accounting processes for your business. From being able to spend more time on the goals of your company, to averting costly mistakes, having a team of experts on your side helps your business grow. They can also help reduce instances of fraud.
It’s hard to believe that we are already into July. Even with the deadline for filing your return and making a payment (if you owe) being extended to July 15, 2020, it still seemed like it came upon us fast. With only a few weeks left, be sure to get any final documents to us and answer any outstanding communications immediately.