The 2021 Colorado minimum wage $12.32/hr for standard pay, and $9.30/hr for tipped employees.
The City of Denver also increased the standard minimum wage for all citywide workers in 2021 to $14.77/hr.
A full list of each state’s minimum wage rate can be found on the US Department of Labor’s website.
Here are a few simple steps to help prepare your organization for a minimum wage increase:
- Know your cash flow: Make sure you are up-to-date on your company’s finances so you know how the increased wages may affect your business. Consider raising prices or adjusting your budget to accommodate rising expenses.
- Update payroll info: Make sure your payroll records get updated with this increase. If you’re an ASAP payroll client, we will work with you to update accordingly.
- Check out this Entrepreneur article for additional tips on how to manage minimum wage increases.
Disclaimer: This information is provided as a self-help tool and does not constitute legal or financial advice. Laws and regulations change often, and decisions as to whether or how to use this information and/or what actions to take are solely those of the viewer. The providers of this information disclaim any and all responsibility and liability for its accuracy, completeness or fitness for your particular business purposes.
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