On March 29, 2013, New York Governor Andrew Cuomo signed legislation that will raise the New York minimum wage in staged increases over the next three years. The New York minimum wage had been the same as the federal level ($7.25), but will now be higher than the federal rate:
Effective December 31, 2013: $8.00/hour
Effective December 31, 2014: $8.75/hour
Effective December 31, 2015: $9.00/hour
The increase was approved as part of the New York state budget for the 2013-2014 fiscal year. The New York minimum wage must be recognized because it is higher than the federal rate.
For those employers in New York who pay minimum wage to employees (other than in tipped and other specified industry positions), or who are required to make certain payments that are tied to the minimum wage (e.g., New York spread-of-hours pay), it is important to ensure that the new obligations are met.