UHY LLP Reports: Michigan Minimum Wage Increase Effective January 2017
Sterling Heights, Michigan (PRWEB) December 16, 2016 -- Effective Jan. 1, 2017, minimum wage employees in Michigan will see an increase of 40 cents per hour from $8.50 to $8.90. For 2017 budgets that translates to an extra $16 per week per fulltime employee, or $832 per year. The law, Public Act 138 known as the Workforce Opportunity Wage Act (WOWA) of 2014 took effect on May 27, 2014 when minimum wage was $7.90, which has gradually increased to the current $8.50. There will be one more increase on Jan. 1, 2018 to the final rate of $9.25.
There is a youth training wage that allows an employer to pay a newly hired employee aged 16 to 19 the hourly rate of $4.25 for the first 90 days of employment. Additionally, there is a provision that allows an employer to pay 85 percent or $7.57 to employees aged 16 and 17. The minimum hourly rate for an employee subject to the tip credit provisions is $3.38 per hour. Finally, employers covered by both state and federal minimum wage law must pay the higher of the two rates.
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UHY LLP, a licensed CPA firm, provides audit and other attest services to publicly traded, privately owned and nonprofit organizations in a number of industry sectors. UHY Advisors provides tax and advisory services to entrepreneurial and other organizations, principally those enterprises in the dynamic middle market.
UHY LLP, operating in an alternative practice structure with UHY Advisors, forms one of the largest professional services firms in the US. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”. To learn more visit http://www.uhy-us.com.
All of the above entities are members of UHY International (“UHYI”), a worldwide network of independent professional services firms that provide audit, tax and advisory services around the globe. UHYI is ranked among the top international accountancy networks and a proud member in good standing of the Forum of Firms. Collectively, our US operating entities (UHY LLP and UHY Advisors) are the largest independent members of UHYI with significant participation, bringing the power of our international network to serve the individualized needs of our clients.
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.
Chris Clark, UHY LLP, +1 (586) 843-2637, [email protected]
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