What You Need to Know About Maine’s Minimum Wage

What You Need to Know About Maine’s Minimum Wage
Here’s a guide to keep Maine’s business owners up-to-date on the state’s minimum wage rules.
by Colleen Egan Oct 30, 2023 — 2 min read
What You Need to Know About Maine’s Minimum Wage

As a small business owner in the Pine Tree State, we know you want to stay on top of recent increases to Maine’s minimum wage, and that’s why we put together this quick guide as a starting point.

What is the minimum wage in Maine 2024?

The minimum wage in Maine is increasing from $13.80 per hour to $14.15 per hour effective January 1, 2024, which is $6.90 more than the federal minimum wage of $7.25. For tipped employees, employers can take a tip credit of up to $7.08 and must pay tipped employees a cash wage of $7.08 per hour. Note that an employee’s tips plus cash wage should equal at least $14.15.

How should small business owners prepare for minimum wage increases?

In 2016, Maine voters approved a measure to gradually increase the minimum wage in relation to the cost of living. According to the legislation, on January 1, 2021, and each January 1 thereafter, the minimum hourly wage must be increased according to the increase in the cost of living.

Here are some other steps you can take to make sure your business is ready for the Maine minimum wage increase and more:

 

While these are helpful guidelines to follow, make sure your business is prepared and stays in compliance by discussing Maine minimum wage laws with your accountant and lawyer.

Colleen Egan
Colleen Egan writes for Square, where she covers everything from how aspiring entrepreneurs can turn their passion into a career to the best marketing strategies for small businesses who are ready to take their enterprise to the next level.

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