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What’s New: 2024 Minimum Wage and Mileage Updates For Production

Original publish date: December 29, 2023

In this piece, we highlight some of the key changes facing our industry in a series called What’s New. While this spotlight does not provide legal advice, it does seek to alert our clients and readers to the myriad of issues and legislative changes facing the entertainment industry.  

The updated 2024 edition of What’s New includes things like minimum wage increases, federal tax and retirement limits, and state loan-out withholding rates. If you have any questions or would like to learn more, contact us at [email protected].

What’s New Across the United States 

New minimum wage increases 

State 2024 rate (per hour) Effective date
 Alabama $7.25  
 Alaska $11.73 Jan. 1, 2024 
 Arizona $14.35 Jan. 1, 2024 
 Arkansas $11.00 Jan. 1, 2021 
 California $16.00 Jan. 1, 2024 
 Colorado $14.42 Jan. 1, 2024 
 Connecticut  $15.69 Jan. 1, 2024 
 Delaware $13.25 Jan. 1, 2024 
 Florida $12.00 Sept. 30, 2023 
 Georgia $7.25  
 Hawaii $14.00 Jan. 1, 2024 
 Idaho $7.25  
 Illinois $14.00 Jan. 1, 2024 
 Indiana $7.25  
 Iowa $7.25  
 Kansas $7.25  
 Kentucky $7.25  
 Louisiana $7.25  
 Maine $14.15 Jan. 1, 2024 
 Maryland  $15.00 Jan. 1, 2024 
 Massachusetts $15.00 Jan. 1, 2023 
 Michigan $10.33 Jan. 1, 2024 
 Minnesota – Small employers (100 or   fewer employees) $8.85 Jan. 1, 2024 
 Minnesota – Large employers (101 or more employees) $10.85 Jan. 1, 2024 
 Mississippi $7.25  
 Missouri $12.30 Jan. 1, 2024 
 Montana $10.30 Jan. 1, 2024 
 Nebraska $12.00 Jan. 1, 2024 
 Nevada – Employers who do provide employee benefits $10.25 July 1, 2023 
 Nevada – Employers who do not provide employee benefits $11.25 July 1, 2023 
 New Jersey – Large employers (six or more) $15.13 Jan. 1, 2024 
 New Jersey – Small employers (fewer than six employees) and seasonal employees $13.73 Jan. 1, 2024 
 New Hampshire $7.25  
 New Mexico $12.00 Jan. 1, 2023 
 New York $15.00 Jan. 1, 2024 
 North Carolina $7.25  
 North Dakota $7.25  
 Ohio $10.45 Jan. 1, 2024 
 Oklahoma $7.25  
 Oregon (Standard) $14.20 July 1, 2023 
 Oregon (Portland Metro) $15.45 July 1, 2023 
 Oregon (Nonurban Counties) $13.20 July 1, 2023 
 Pennsylvania $7.25  
 Puerto Rico $9.50 July 1, 2023 
 Rhode Island $14.00 Jan. 1, 2024 
 South Carolina $7.25  
 South Dakota $11.20 Jan. 1, 2024 
 Tennessee $7.25  
 Texas $7.25  
 Utah $7.25  
 Vermont $13.67 Jan. 1, 2024 
 Virginia $12.00 Jan. 1, 2023 
 Washington $16.28 Jan. 1, 2024 
 West Virginia $8.75  
 Wisconsin $7.25  
 Wyoming $7.25  

Locality  2024 rate (per hour) Effective date 
 Flagstaff, AZ $17.40 Jan. 1, 2024 
 Tucson, AZ $14.25 Jan. 1, 2024 
 Alameda, CA $16.52 July 1, 2023 
 Belmont, CA $17.35 Jan. 1, 2024 
 Berkeley, CA $18.07 July 1, 2023 
 Burlingame, CA $17.03 Jan. 1, 2024 
 Cupertino, CA $17.75 Jan. 1, 2024 
 Daly City, CA $16.62 Jan. 1, 2024 
 El Cerrito, CA $17.92 Jan. 1, 2024 
 Emeryville, CA  $18.67 July 1, 2023 
 East Palo Alto, CA$17.10 Jan. 1, 2024 
 Foster City, CA $17.00 Jan. 1, 2024 
 Fremont, CA$16.80 July 1, 2023 
 Halfmoon Bay, CA $17.01 Jan. 1, 2024 
 Hayward, CA (26 or more employees)$16.90 Jan. 1, 2024 
 Hayward, CA (25 or fewer employees)$16.00 Jan. 1, 2024 
 Los Altos, CA $17.75 Jan. 1, 2024 
 Los Angeles City, CA  $16.78 July 1, 2023 
 Los Angeles County, CA  (Unincorporated LA County) $16.90 July 1, 2023 
 Malibu, CA    $16.90 July 1, 2023 
 Menlo Park, CA $16.70 Jan. 1, 2024 
 Milpitas, CA $17.20 July 1, 2023 
 Mountain View, CA $18.75 Jan. 1, 2024 
 Novato, CA (100 or more employees)$16.86 Jan. 1, 2024 
 Novato, CA (26-99 employees)$16.60 Jan. 1, 2024 
 Novato, CA (25 employees or fewer)$16.04 Jan. 1, 2024 
 Oakland, CA $16.50 Jan. 1, 2024 
 Palo Alto, CA $17.80 Jan. 1, 2024 
 Pasadena, CA $16.93 July 1, 2023 
 Petaluma, CA $17.45 Jan. 1, 2024 
 Redwood City, CA $17.70 Jan. 1, 2024 
 Richmond, CA $17.20 Jan. 1, 2024 
 San Carlos, CA$16.87 Jan. 1, 2024 
 San Diego, CA $16.85 Jan. 1, 2024 
 San Francisco, CA $18.07 July 1, 2023 
 South San Francisco, CA $17.25 Jan. 1, 2024 
 San Jose, CA $17.55 Jan. 1, 2024 
 San Leandro, CA $15.50 Jan. 1, 2023 
 San Mateo, CA $17.35 Jan. 1, 2024 
 San Mateo County, CA (Unincorporated San Mateo County) $17.06 Jan. 1, 2024 
 Santa Clara, CA $17.75 Jan. 1, 2024 
 Santa Monica, CA – Small employers   (25 or fewer employees) $16.90 July 1, 2023 
 Santa Monica, CA – Large employers  (26 or more employees) $16.90 July 1, 2023 
Santa Rosa, CA $17.45 Jan. 1, 2024 
 Sonoma, CA (25 or fewer employees)$16.56 Jan. 1, 2024 
 Sonoma, CA (26 or more employees)$17.60 Jan. 1, 2024 
 Sunnyvale, CA $18.55 Jan. 1, 2024 
 West Hollywood, CA $19.08 July 1, 2023 
 Boulder County, CO (Only unincorporated areas) $15.69 Jan. 1, 2024 
 Denver, CO $18.29 Jan. 1, 2024 
 Edgewater, CO (New) $15.02 Jan. 1, 2024 
 District of Columbia $17.00 July 1, 2023 
 Chicago, IL (4-20 employees) $15.00 July 1, 2023 
 Chicago, IL (21 or more employees) $15.80 July 1, 2023 
 Cook County, IL $14.00Jan. 1, 2024
 Portland, ME $15.00 Jan. 1, 2024 
 Rockland, ME $15.00 Jan. 1, 2024 
 Howard County, MD (14 or fewer employees) $14.00 Jan. 1, 2024 
 Howard County, MD (15 or more employees) $15.00 Jan. 1, 2023 
 Montgomery County, MD – Small employers (10 or fewer employees) $15.00 Jan. 1, 2024 
 Montgomery County, MD – Medium employers (11-50 employees) $15.00 July 1, 2023 
 Montgomery County, MD – Large employers (51 or more employees) $16.70 July 1, 2023 
 Minneapolis, MN – Small employers  (100 or fewer employees) $14.50 July 1, 2023 
 Minneapolis, MN – Large employers  (101 or more employees) $15.57 Jan. 1, 2024 
 St. Paul, MN – Macro employers (more than 10,000 employees)$15.57 Jan. 1, 2024 
 St. Paul, MN – Large employers (101–10,000 employees)$15.00 July 1, 2023 
 St. Paul, MN – Small employers (6-100 employees)$13.00 July 1, 2023 
 St. Paul, MN – Micro employers (5 or fewer employees)$11.50 July 1, 2023 
 Albuquerque, NM – Employers who provide employee benefits $12.00 Jan. 1, 2023 
 Albuquerque, NM – Employers who do not provide employee benefits $12.00 Jan. 1, 2023 
 Bernalillo County, NM $12.00 Jan. 1, 2023 
 Las Cruces, NM $12.36 Jan. 1, 2024 
 City of Santa Fe, NM $14.03 Mar. 1, 2023 
 Santa Fe County, NM $14.03 Mar. 1, 2023 
 New York City, NY  $16.00 Jan. 1, 2024 
 Long Island & Westchester, NY $16.00 Jan. 1, 2024 
 Seattle, WA – Small employers with benefits (500 or fewer employees) $17.25 Jan. 1, 2024 
 Seattle, WA – Small employers without benefits (500 or fewer employees) $19.97 Jan. 1, 2024 
 Seattle, WA – Large employers   (501 or more employees) $19.97 Jan. 1, 2024 
 Tukwila, WA (More than 500 employees worldwide) $20.29 Jan. 1, 2024 
 Tukwila, WA (15 to 500 employees worldwide or annual gross revenue over $2 million) $18.29 Jan. 1, 2024 

IRS-issued standard mileage rates for 2024  

Notice 2023-239, December 14, 2023 – Today, the Internal Revenue Service issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.  

Beginning on January 1, 2024, the standard mileage rates for the use of a car (also vans, pickups, and panel trucks) will be:  

The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on variable costs. 

Social Security payroll tax limits for 2024 

Starting January 1, 2024, the maximum earnings subject to the Social Security payroll tax will increase by $8,400—up to $168,600—from 2023’s $160,200 max. The Social Security Administration (SSA) made the announcement on October 12. The SSA also posted a fact sheet summarizing the 2024 changes. 

The taxable wage cap is subject to an automatic cost-of-living adjustment (COLA) each year based on increases in the national average wage index, calculated annually by the SSA. 

Payroll Taxes: Cap on Maximum Earnings 
Type of payroll tax 2024 maximum earnings  2023 maximum earnings
Social Security $168,600  $160,200
Medicare  No limit  No limit
Source: Social Security Administration

401(k) limits for 2024 

The IRS has just revealed that the contribution limit for 401(k) plans in 2024 will experience a $500 uptick, rising to $23,000 from the previous year’s $22,500.

Loan-Out withholding tax rate updates for 2024

Colorado Loan-Out Withholding Rate

Colorado loan-out rate will be 4.40% in 2024.

Georgia Loan-Out Withholding Rate

Georgia loan-out rate will decrease to 5.49% for 2024.

Kentucky Loan-Out Withholding Rate

Kentucky loan-out rate will decrease to 4.00% in 2024.

Montana Loan-Out Withholding Rate

Montana loan-out rate will decrease to 5.90% in 2024.

Hawaii Loan-Out Withholding Rate

Maui County, HI loan-out rate will increase to 4.50% in 2024.

What’s New Across Canada

Claim codes

Province  Claim code  Amount   
FED  1  CA$15,705.00
AB  1  CA$21,885.00  
BC  1  CA$12,580.00  
MB  1  CA$15,780.00  
NB  1  CA$13,044.00  
NL   1  CA$10,818.00  
NS  1  CA$11,481.00  
NT  1  CA$17,373.00  
NU CA$18,767.00  
ON  1  CA$12,399.00  
PE  1  CA$13,500.00  
QC  A  CA$15,728.00  
SK  1  CA$18,491.00  
YT  1  CA$15,705.00  

CPP / EI limits and more

Tax Max earnings  Rate  Max employer   premium  Max employee premium  
CPP  CA$65,000.00 5.95    CA$3,867.50 
CPPE  CA$65,000.00  5.95 CA$3,867.50    
CPP2CA$73,200.004.00CA$188.00
CPPE2CA$73,200.004.00CA$188.00
EI  CA$63,200.00  1.66    CA$1049.12  
EIE  CA$63,200.00  2.324 CA$1,468.77    
QPP  CA$65,000.00  6.40    CA$4,160.00  
QPPE  CA$65,000.00  6.40  CA$4,160.00   
QPP2CA$73,200.004.00CA$188.00
QPPE2CA$73,200.004.00CA$188.00
QEI  CA$63,200.00  1.32    CA$834.24 
QEIE  CA$63,200.00  1.848  CA$1,167.94    
QPIP  CA$94,000.00     0.494    CA$464.36  
QPIPE  CA$94,000.00     0.692  CA$650.48    
EHT   No limit1.95      
QHSF  No limit4.26      

Provincial minimum wages 

Province / Territory 2023 -2024 rate (per hour) Effective date 
Alberta CA$15.00 Oct. 1, 2018 
Alberta (Under 18 and works 28 hours a week or fewer) CA$13.00 June 26, 2019 
British Columbia CA$16.75 June 1, 2023 
Manitoba CA$15.30 Oct 1, 2023 
New Brunswick  CA$14.75 April 1, 2023 
Newfoundland and Labrador CA$15.00 Oct. 1, 2023 
Northwest Territories CA$16.05 Sept. 1, 2023 
Nova Scotia CA$15.00 Oct. 1, 2023 
Nunavut CA$16.00 April 1, 2020 
Ontario CA$16.55 Oct. 1, 2023 
Prince Edward Island CA$15.00 Oct. 1, 2023 
Prince Edward Island CA$15.40 April 1, 2024 
Quebec CA$15.25 May 1, 2023 
Saskatchewan CA$14.00 Oct. 1, 2023 
Saskatchewan CA$15.00 Oct. 1, 2024 
Yukon CA$16.77 April 1, 2023 
Federal CA$16.65 April 1, 2023 

WCB maximum assessable earnings

Province  WCB maximum assessable earnings    Province  WCB maximum assessable earnings  
Alberta  CA$102,100.00     Nunavut  CA$110,600.00  
British Columbia  CA$116,700.00     Ontario  CA$112,500.00   
Manitoba  CA$160,510.00     Prince Edward Island  CA$78,400.00   
New Brunswick  CA$76,900.00     Quebec  CA$94,000.00  
Newfoundland & Labrador  CA$76,955.00     Saskatchewan  CA$99,945.00  
Nova Scotia  CA$72,500.00     Yukon  CA$102,071.00  
Northwest Territories  CA$110,600.00      

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