Employers in 14 states will be paying increased federal unemployment tax for 2013 due to their state not being able to pay off loans borrowed from the federal government. The following is a listing of several surrounding states and the reduction rate that employers in these states will be paying:
Effective January 1, 2014 the minimum wage in several states will be increasing. Companies who are engaged in the retail or service industry whose annual gross receipts are less than $500,000 are not required to pay the state minimum wage rate. The Federal minimum rate is $7.25 per hour. When the state minimum wage rate is higher than the federal rate, workers are paid the higher rate.
The minimum wage in Illinois for adults over the age of 18 who are no longer probationary is $8.25 per hour.
Missouri’s minimum rate is increasing to $7.50 per hour beginning January 1, 2014.
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