The minimum wage rate will increase to $14.20/hour on December 31, 2022, for the majority of New York State. If you live in New York City, Long Island or Westchester, the minimum wage rate will remain at $15.00 per hour. These rates will be effective from December 31, 2022, through December 30, 2023.
If you are an employee, be sure your paychecks at the beginning of 2023 are reflecting the $14.20 rate. If you are an employer, be sure to increase your employees’ wages to this rate to avoid any penalties. Any employer who is not paying the minimum wage rate will be subject to criminal prosecution and penalties. The Commissioner of Labor could require the employer to pay the underpayments as well as pay interest and civil penalties up to 200% of the unpaid wages.
If you have any questions, please contact Gleason Tax Advisory at 716-720-5339.
