Vermont Minimum Wage Increases: Everything You Need to Know in 2024

Vermont Minimum Wage Increases: Everything You Need to Know in 2024
Browse this comprehensive guide to the Vermont minimum wage in 2024, including exemptions, projections, and other information for small business owners.
by Square Nov 20, 2023 — 3 min read
Vermont Minimum Wage Increases: Everything You Need to Know in 2024

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.

Vermont is one of the many states that have passed a law to gradually raise the minimum wage. For small business owners in the state, this is an essential topic.

As an employer, it’s important to keep on top of these changes so you’re paying your employees what is legally required. We pulled together an overview of Vermont’s minimum wage increases as well as some ideas about how to prepare for those costs.

What is the minimum wage in Vermont?

The minimum wage in Vermont is increasing to $13.67 per hour on January 1, 2024, up from $13.18 per hour in 2023.

Vermont does have a set of exceptions for the state minimum wage. Vermont allows tipped employees at hotels, tourist attractions, and restaurants who earn more than $120 a month in tips to be paid a unique minimum wage of $6.84 per hour, effective January 1, 2024. Additionally, employees that are high school students, nonprofit employees, taxi drivers, agricultural and domestic workers, and government employees may be exempt from Vermont’s minimum wage laws. To further understand the minimum wage in Vermont, you can refer to the 2024 minimum wage poster.


How is Vermont’s minimum wage changing beyond 2024?

While a lot of states have set forth a plan to reach a $15 minimum wage within the decade, Vermont has not yet passed a bill proposed to reach this same goal. In 2019, Vermont passed a bill leading to the 2021 and 2022 minimum wage increases. Beyond 2024, minimum wage increases will be tied to the Consumer Price Index.

How can Vermont business owners prepare for changes to the minimum wage?

It’s time to get prepared. Here are some things to put on your to-do list for avoiding mistakes many new business owners make:

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