Alaska’s hourly minimum wage will rise to $11.73 from $10.85 effective Jan. 1, 2024, according to a Nov. 14 news release from the Labor and Workforce Development Department.
Alaska does not allow tips to be credited toward employers’ minimum wage obligations.
The news release confirms Bloomberg Tax’s Aug. 29 calculations.
The salary threshold for executive, administrative, and professional employees to be exempt from minimum wage and overtime-pay requirements will rise to $938.40 per week, or $48,796.80 per year, according to the news release. Currently, the salary threshold for exemption in 2023 is $868 per week, or $45,136 per year. ...
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