Minimum Wage Increases & IRS Standard Mileage Rate Changes
Vermont’s Minimum Wage will increase January 1st, 2017.
The Vermont Department of Labor announced that the STATE minimum wage rate will be increased to $10.00 per hour – from the current rate of $9.60 per hour – effective on January 1, 2017.
Meals and Lodging Allowances Will Also See Slight Increases.
For more information on Vermont’s minimum wage increase, click here.
Other State(s) Minimum Wage:
NH Minimum Wage
IRS Standard Mileage Rate Changes January 1st, 2017.
The Internal Revenue Service has issued its 2017 optional standard mileage rates. Effective January 1st, 2017, the IRS standard rate will be 53.5 cents per mile driven for business purposes (a decrease from the 2016 rate of 54 cents per mile). Use of this rate is optional, though it is widely seen by employers as a simple way to determine a standard rate for calculating mileage reimbursement for employees who use their personal vehicle for business purposes. If your organization uses the IRS rate to calculate mileage reimbursement, be sure to update your systems to account for this change.