The minimum wage has long been more than a labor law. It's often a highly politicized issue, one about which your friends and family might have strong opinions. That said, no matter what you and the people in your life think about minimum wage laws, your business must almost always follow them. To that end, we've assembled the below guide to federal and state minimum wages. Read on to learn how to remain compliant in all your employee payments.
The minimum wage is the lowest legally allowed hourly pay rate an employer can set for its employees. For example, in 2005, the federal minimum wage was $5.15 per hour. As such, in 2005, all U.S. employers were required to pay their employees at least $5.15 per hour. Salaried employees must also receive at least the minimum wage when their annual income is broken down into hourly pay rates.
Minimum wage exceptions, or at least different rules, often exist for tipped workers such as restaurant...
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