The City will phase in the minimum wage increase on an annual basis, every July 1st from 2015 through 2019, according to the schedule below.
Beginning in 2020 and every year after, the minimum wage increase will be tied to the rate of inflation. The increase will not exceed 2.5 percent, and there will be no increase if the unemployment rate in Chicago in the previous year was equal to or greater than 8.5 percent.
July 1, 2016 $10.50 $5.95
(under current state law)
July 1, 2017 $11.00 Amount to be determined and
announced each year on or before June 1st. July 1, 2018 $12.00
July 1, 2019 $13.00
* Under both state law and the ordinance, if an employee’s wages plus tips do not equal at least the number of hours worked times the applicable minimum wage, his or her employer must make up the difference.
Beginning in 2020 and every year after, the minimum wage increase will be tied to the rate of inflation. The increase will not exceed 2.5 percent, and there will be no increase if the unemployment rate in Chicago in the previous year was equal to or greater than 8.5 percent.
July 1, 2016 $10.50 $5.95
(under current state law)
July 1, 2017 $11.00 Amount to be determined and
announced each year on or before June 1st. July 1, 2018 $12.00
July 1, 2019 $13.00
* Under both state law and the ordinance, if an employee’s wages plus tips do not equal at least the number of hours worked times the applicable minimum wage, his or her employer must make up the difference.
Make sure to update your payroll system to increase your City of Chicago wages by July 1, 2016. If you are a current payroll client of Micro Tax & Accounting LLC and/or our sister company, Millennium Concepts, we will make payroll adjustments in your behalf. If you currently have ADP or any other payroll service, chances are we can save you money by doing your payroll. Contact us for a free estimate!
Lorenzo Fiol, Your Amigo and Retirement Specialist
[email protected]
WWW.CHITOWNTAX.COM
773.663.2310
2911 N CICERO AVE, CHICAGO IL 60641
[email protected]
WWW.CHITOWNTAX.COM
773.663.2310
2911 N CICERO AVE, CHICAGO IL 60641
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