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New Minimum Wage in Colorado

Photo/ EFE

$12.32 AN HOUR

Newsroom El Comercio de Colorado

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Under the Colorado Overtime & Minimum Pay Standards Order (COMPS Order #37) beginning in 2021, the standard minimum wage in Colorado will increase. Beginning on January 1^st, 2021, the minimum wage will increase from $12.00 an hour to $12.32 an hour. The minimum wage for tipped employees will increase from $8.98 an hour to $9.30 an hour. For tipped employees, the maximum $3.02 tip credit remains the same.

The salary threshold for exempt employees, including those under the administrative, executive, and professional exemptions will increase from $684.00 per week, or $35,568 per year, to $778.85 per week, or $40,500.20 per year. Employees falling under the “highly technical computer-related occupation” exemption must be paid at least the salary threshold, or $28.38 an hour.

COMPS Order poster

For those of you with salaried employees, the minimum salary for exempt employees will steadily increase over the next three years to $55,000 in 2024. The COMPS Order #37 poster should be posted in a conspicuous place in your business along with other labor law posters. In case you have employees working remotely, you should forward an electronic version of the COMPS Order poster to them.