Illinois Minimum Wage Increase
Illinois has announced incremental minimum wage increases beginning January 1, 2020.
Illinois Minimum Wage Credit
Illinois created a Minimum Wage Credit for Illinois employers that may be used against Illinois withholding income tax payments. The credit is available for tax quarters beginning January 1, 2020, and ending December 31, 2027.
Fair Labor Standards Act
Effective January 1, 2020, the U.S. Department of Labor implemented an important change to the Fair Labor Standards Act by increasing the earnings thresholds for exempt employees from $455 per week ($23,660 per year) to $684 per week ($35,568 per year).