- Apr 21, 2020
Stay all-set for Minimum Wage Increase with Real Check Stubs
The rise in Minimum wage is undoubtedly a dramatic change to survive but real check stubs are the real savage here too.
Looking at the brighter side, your business can drive unexpected benefits by increasing the minimum wage and cutting down on extra costs. As known from the minimum wage increase announcement in December 2019, 21 states will follow the trend with Municipal and State legislatures leading the round.
Let’s have a look at what’s going to happen & how you can deal with the same.
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Key Highlights on Minimum Wage Increase
- Tipped employees are disqualified from enjoying the benefits of minimum wage increase
- Many US states don’t have any minimum wage & this includes Utah, Minnesota, Louisiana, Mississippi, Tennessee, Alabama, South Carolina, and Virginia
- The Federal Minimum Wage will not see any rise or change in 2020 except for Federal Contractor
- California & Washington State have the highest minimum wage as $13 & $13.5 per hour respectively
- New York offers a minimum wage of $12 per hour
- Many US states are expected to increase the minimum wage by mid-2020s
- Some US states have to abide by minimum wage increase law for part-time employees too. However, students and young people may be exceptions here.
The impact on Businesses
As the minimum wage increases, businesses have to abide by new laws. It’s always better to create realcheckstubs online to track down minimum wages easily. As it keeps a record of wages and taxes paid, your compliance is tracked easily. Also, it is a protection against the possible liability of you being sued over wages by disgruntled employees. The risk of fines against non-compliance with the law is also eliminated.
Who qualifies as exempted from increasing the minimum wage?
Businesses earning a revenue of less than $1 million per year, has very few employees & operate at a single location then you qualify for exemption from increasing the minimum wage. However, researching the local laws and requirements of the state is essential.
Analyze your company processes and outline areas where you can cut down costs. Keep looking for ways in which you can turn your business more profitable without compromising over business performance. You also need to find ways to save money like you can do with our pay stub builder.
How does check stub maker help?
Our check stub maker helps users by creating paychecks with upgraded tax amounts. You can rely on the accuracy of the paystub calculator as you’ll be able to create stubs according to the updated amounts anytime and anywhere.
When costs and operating expenses are chopped off, higher-paid employees enjoy the benefits and businesses can get profitable too. You may even see a gradual increase in customers and revenue too.
Don’t forget to create paycheck stub online with less time & efforts spent on pay stubs for new minimum wages.