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Please note that the information contained in this article is limited in scope and is only intended as a high-level overview of the topics discussed. The information is current as of the publication date only, and the laws (and associated agency and/or judicial interpretations) on the topics discussed could change at any point in the future. Block, Inc. (including its affiliates, subsidiaries, employees, officers, directors, attorneys, and tax advisors) undertakes no obligation to update this article for future changes in the law. In addition, laws vary by jurisdiction, and this article does not attempt to address all jurisdictions — for example, states, counties, or cities often have requirements that differ from federal law. Nothing in this article is or should be used as tax or legal advice. In particular, this article cannot be relied upon for the purposes of avoiding taxes, penalties, or other obligations under applicable law. For guidance or advice specific to your business, you should consult with a qualified tax and/or legal professional.
Small business owners in the Granite State understand the importance of a robust workforce, but with that comes a need to understand the financial implications when hiring. For instance, what’s the minimum wage in New Hampshire, and what does that mean for business owners across sectors?
We put together this quick guide with some key information you need to know about the minimum wage in New Hampshire.
What is the minimum wage in New Hampshire?
The minimum wage in New Hampshire hasn’t changed in over 10 years, and in 2023 it remained at $7.25. There have been a number of attempts to raise the minimum wage over the years, but New Hampshire has remained consistent with the federal minimum wage.
Will the minimum wage change in 2024?
Residents of New Hampshire won’t see a raise in the state minimum wage come 2024, though many senators have pushed over the years to see minimum wage bills and calls to action become a reality.
What about tipped employees?
According to the New Hampshire Department of Labor (DOL): “A tipped employee of a restaurant, hotel, motel, inn, or cabin who customarily and regularly receives more than $30 a month in tips directly from the customer will receive a base rate from the employer of not less than 45 percent of the applicable minimum wage.”
In July 2021, the state passed a bill updating the law, making the tipped minimum wage a fixed number of $3.27 per hour, which amounts to 45 percent of the current minimum wage. This means that if the minimum wage increases at the federal or state level, it would not necessarily increase for tipped workers.
What about overtime?
In New Hampshire, employees working more than 40 hours a week are guaranteed time and a half for all hours worked. There are some exemptions here, including seasonal employees who work fewer than six months a year.
Are there plans to change the minimum wage beyond 2024?
There are no current bills or initiatives that plan on raising the minimum wage in New Hampshire.
How should small business owners prepare for changes to the minimum wage?
While the minimum wage in New Hampshire hasn’t changed in over a decade, there could be new legislation that could cause changes in the future.
Here are some other steps you can take to make sure your business is ready if there are future changes in the New Hampshire minimum wage, 2024 and beyond:
- Evaluate your staffing: Take a look at your hourly, weekly, and monthly sales to determine if your current staffing levels are appropriate. Based on those sales and the rest of your finances, make a plan for any future hiring. Maybe you need to add a new full-time employee each year. Or maybe your sales are seasonal and hiring contract employees during your busy seasons makes more sense.
- Hire the best: Hiring the right people is always important, but doubly so when you operate a small business. So take your time and cast a wide net when recruiting new employees. And once you have your team in place, make employee retention a priority by offering them a path to growth and development, and by making your business an attractive place to work.
- Upgrade your technology: When you automate complicated, time-consuming aspects of management, like payroll, you can spend more time focusing on issues like staffing and growing your business. Square makes it easy to get your business off to a good start. Learn how to do payroll yourself, avoid common payroll mistakes, and get your free EIN before you start the hiring process.
