New York State Minimum Wage Increase 2024

New York State Minimum Wage Increase 2024. As part of the fiscal year 2024 budget, governor hochul secured an agreement to increase the state’s minimum wage through 2026, with indexing to inflation. The raise is set to take effect on jan.

The tip credit, which is 38% of the minimum — $3.93 — will initially increase to 48%, about $6, and keep going up until it’s 100% of the regular wage by. On may 3, 2023, new york gov.