California’s hourly minimum wage will rise to $16 from $15.50 effective Jan. 1, 2024, a finance department official said in an Aug. 2 email to Bloomberg Tax.
The state finance director is responsible for making annual adjustments to the minimum wage, under California’s labor code. The calculation is based on changes to the consumer price index over the prior year.
On Nov. 5, 2024, the state will vote on a ballot initiative that would increase the minimum wage to $17 on Jan. 1, 2025, and to $18 on Jan. 1, 2026. Starting for calendar year 2027, the state finance ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.