Washington State’s minimum wage rises on 1/1/14 to $9.32 per hour. It’s the highest state minimum wage in the nation.
This chart from L&I’s website shows how Washington’s minimum wage has changed year-to-year since 1961.
Social Security Payroll Taxes:
On 1/1/1/14, the maximum amount of earnings subject to Social Security payroll tax increases from $113,700 to $117,000. This raises the maximum yearly Social Security tax withheld to $7,254, up from $7,049.
Workers Comp Rates:
Labor & Industries has announced an average across the board rate increase of 2.7% on all industries, after having held rates steady for the past three years.
Starting in 2014, Employers can now allow employees to carry over $500 of unused amounts left in their health Flexible Spending Accounts for expenses occurred in the next year.