Insights

New State Minimum Wages Take Effect

PKS CPA

Recent law changes have increased minimum wage in both Maryland and Delaware.

Please review the following table to ensure you are in compliance:

Minimum Wage Tipped Employees Effective Date
Delaware $8.25 $2.33 June 1, 2015
Maryland $8.25 $3.63 July 1, 2015
Virginia $7.25 $2.13 No change

Please contact our office should you have any questions or need assistance with these payroll changes.

PKS & Company, P. A. is a full service accounting firm with offices in Salisbury, Ocean City and Lewes that provides traditional accounting services as well as specialized services in the areas of retirement plan audits and administration, medical practice consulting, estate and trust services, fraud and forensic services and payroll services and offers financial planning and investments through PKS Investment Advisors, LLC.  Visit www.pkscpa.com or call 1-800-274-2564.

Get Updates From PKS & Company, P.A.

Enter your email address to get our monthly newsletter and important updates regarding financial advice, tax code changes and more. 

MORE INSIGHTS

feature-image

Dominic M. Lagonigro, CPA

Avatar

It’s Not Too Late to Claim This Valuable Tax Credit

The CARES Act that was signed into law in early 2020 included a special tax credit designed to encourage businesses to retain employees during the c
Read Full Article
feature-image

John M. Stern, CPA/PFS

Avatar

Lowdown on Federal Tax Proposals for Businesses and Individuals

The U.S. Department of Treasury released its "Green Book" in May entitled, "General Explanation of the Biden administration's Fiscal Year 2022 Reven
Read Full Article
feature-image

Daniel M. O'Connell - CPA/PFS, CVA

Avatar

Would a Roth IRA Conversion Make Sense for You?

Roth IRA and 401(k) accounts were created in 1998. Contributions to Roth accounts are taxed on the front end at ordinary tax rates when made. But wi
Read Full Article