Colorado is raising its minimum wage to $13.65 from $12.56 effective Jan. 1, 2023, Gov. Jared Polis (D) announced on Sept. 13.
Employers may use a tip credit of up to $3.02 for tipped employees, under Colorado’s current Overtime and Minimum Pay Standards Order. The minimum wage for tipped employees would be $10.62 in 2023 if employers use a $3.02 tip credit.
The state minimum wage is annually adjusted based on changes to the consumer price index in the Denver-Aurora-Lakewood Metropolitan Statistical Area.
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
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.