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Newsline

Our newsline provides the latest news from the IRS, due dates, reminders, and thoughtful insights on accounting and tax related topics

Minimum Wage Increase Effective October 1, 2022

7/2/2022

 
Signed into law on June 22, 2022 by Governor Ige, Act 114 increases the minimum wage from $10.10 per hour to $12 an hour starting October 1, 2022. 

That is just the beginning.  Further increases are coming:  The new minimum wage will be increased further to:
  • $14 per hour starting Jan. 1, 2024
  • $16 per hour starting Jan. 1, 2026, and
  • $18 per hour starting Jan. 1, 2028
​
Economic Outlook: 
  1. Increased income to workers and their families. 
  2. Increased prices for goods and services due to increased wages. 
  3. Inflation will continue.

L&F Tax & Bookkeeping Services
1295 S. Kihei Road, Suite G
Kihei, HI 96753
(808) 419-7143
Fax (808) 427-3570


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