Effective January 1, 2014, the Florida minimum wage will increase by 14 cents to $7.93. The minimum wage for employees who earn tips will also increase by 14 cents to $4.91 per hour.
Florida law requires the Florida Department of Economic Opportunity to calculate a minimum wage rate each year. The annual calculation is based on the percentage increase in the federal Consumer Price Index for Urban Wage Earners and Clerical Workers in the South Region for the 12-month period prior to September 1, 2013.
Employers must pay their employees the hourly state minimum wage for all hours worked in Florida. Employers of “tipped employees” who meet eligibility requirements for the tip credit under the FLSA (Fair Labor Standards Act) may count tips actually received as wages under the Florida minimum wage. However, the employer must pay “tipped employees” a direct wage. The direct wage is calculated as equal to the minimum wage ($7.93) minus the 2003 tip credit ($3.02), or a direct hourly wage of $4.91 as of January 1, 2014.
Whether or not you have employees at the minimum wage level, you are required to post the Florida Minimum Wage poster with your other mandatory postings in a conspicuous place. This poster is in addition to the federal requirement to post a notice of the federal minimum wage. To download the appropriate poster, please visit: http://www.floridajobs.org/business-growth-and-partnerships/for-employers/display-posters-and-required-notices
If you have any questions regarding the new minimum wage and its impact, please call us at (239) 433-5554. You may also visit our website at www.markham-norton.com.