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Washington State minimum wage rises to $16.28 per hour and remains the highest state minimum wage in the United States throughout the year. [ 1 ] Seattle minimum wage rises to $19.97 per hour, the highest for a major U.S. city. [ 2 ]
Washington – no individual tax but has a business and occupation tax (B&O) on gross receipts, applied to "almost all businesses located or doing business in Washington." It varies from 0.138% to 1.9% depending on the type of industry.
Starting in 2024, 50% of the income is exempt, higher than the 25% exemption in 2023. In tax year 2025, 75% will be exempt, and IRA income will be 100% exempt from 2026 onward. ⭐ Quick facts ...
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
The minimum wage in Los Angeles and Washington, D.C., will be $15.00 per hour in 2020. [57] [58] By July 1, 2021, the minimum wage in Chicago was $15.00, with Illinois eventually matching the rate statewide by 2025. [59] As of July 1, 2024, the minimum wage in Chicago is $16.20 per hour for non-tipped employees and $11.02 for tipped employees.
Washington: $15.74 an hour. Workers under 16 years old can be paid 85% of the adult minimum wage in 2023, or $13.38 an hour. Workers under 16 years old can be paid 85% of the adult minimum wage in ...
In addition to income tax, a wage earner would also have to pay Federal Insurance Contributions Act tax (FICA) (and an equal amount of FICA tax must be paid by the employer): $40,000 (adjusted gross income) $40,000 × 6.2% [36] = $2,480 (Social Security portion) $40,000 × 1.45% = $580 (Medicare portion)
Washington, DC residents will vote on a measure that would get rid of a system that lets restaurants pay tipped workers below minimum wage. Initiative 82: Washington, DC could get rid of system ...