Illinois Minimum Wage 2024 Increase

Published On: December 4th, 2023Categories: Payroll, Payroll Tax, Small Business

The new year is upon us, which means the next installment of Illinois minimum wage increases. Whether you are a business owner or an individual, knowing what these changes look like and where you may see increases is important.

January 1st, 2024, activates the next scheduled increase of the Illinois minimum wage, rising from $13.00 to $14.00 per hour. The minimum wage has been increasing since 2020 and will continue to increase by $1.00 per hour each January 1st until it reaches $15.00 per hour on January 1st, 2025.

Additionally, this scheduled increase impacts the tipped employee wage rate, which is 60% of the hourly minimum wage. Effective January 1st, 2024, the tipped wage rate will increase to $8.40 per hour and continue to increase annually with the minimum wage increases.

Below is a breakdown of Illinois’ scheduled minimum wage rate increases by year.

For further information on these increases, please visit the Illinois Department of Labor website. Eccezion is here to guide you through these increases to ensure that you stay compliant. Please reach out to our payroll specialists at payroll@eccezion.com should you have any questions.

About the Author: Andrea Doerdelmann

Andrea Doerdelmann is every payroll client’s preferred Eccezion team member, or she’s at least their employees’ favorite– whether they know it or not. Why? She makes sure everyone gets paid. “Andrea is the lead team member of our payroll department,” firm partner Shelly Spata says. “She is great at following through with clients and resolving payroll issues. She is also excellent at adapting to various client accounting systems to get payroll done on the client’s system rather than ours.”