Your Guide to Maryland Minimum Wage

Your Guide to Maryland Minimum Wage
We’ve put together this quick guide for Old Line state employers with the latest information on the Maryland minimum wage.
by Colleen Egan Oct 30, 2023 — 2 min read
Your Guide to Maryland Minimum Wage

This article doesn’t constitute legal advice. Please consult a lawyer or accountant in your state to learn more about minimum wage legislation as it applies to your business.

As a business owner, you have a lot to keep track of. Customers, inventory, cash flow. And when you start hiring employees, the information you need to know balloons. There are a lot of laws and rules for employers — like the minimum wage you need to pay employees.

To help make that information a little easier to find, we’ve put together this quick guide for Old Line state employers with the latest information on the Maryland minimum wage.

 

What is the minimum wage in Maryland?

As business owners know, Maryland’s minimum wage has been gradually increasing over the past few years. In 2023, the minimum wage in Maryland was $13.25 per hour for businesses with 15 or more employees and $12.80 for small businesses with 14 or fewer employees. Effective January 1, 2024, the minimum wage in Maryland will be $15.00 per hour for all employers.

 

However, some employees exempt from this minimum wage rate include:

Keep in mind that counties, cities, and towns may have their own minimum wage laws. 

What’s happening with the minimum wage beyond 2024 in Maryland?

As part of the bill that was recently passed, the state minimum wage will gradually increase over time. It remains to be seen whether Maryland minimum wage will continue to increase past 2024. 

Date Employers with 15 or more Employers 14 or fewer
January 1, 2021 $11.75 $11.60
January 1, 2022 $12.50 $12.20
January 1, 2023 $13.25 $12.80
January 1, 2024 $15.00 $15.00

How should small business owners prepare for potential changes to the minimum wage?

Maryland small business owners have spent the last few years adjusting to phased-in increases to the minimum wage, but they should pay attention to any possible adjustments to the current wage increases.

Here are some other steps you can take to make sure your business is ready for anything:

 

Square is here to help you with small business resources to help you and your business thrive. Be sure to consult with your lawyer or tax attorney to fully understand the Maryland minimum wage laws and how they apply to your business.

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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