Colorado State Minimum Wage

Author: Jason Coles

Updated On:

The Colorado state minimum wage increased by $1.09 on January 1, 2023, from $12.56 in 2022 to $13.65 per hour in 2023. This is the largest minimum wage increase in Colorado’s history and represents an 8.6% increase from the previous year. For many people deciding to relocate to Colorado for employment purposes, the minimum wage is an attractive proposition.

In 2023 the federal minimum wage is still at $7.25 per hour, much to the disappointment of many employees residing in states that do not have a minimum wage higher than this. For Colorado, not only has the min wage been increasing on a consistent basis over the past several years, the minimum wage has been above the federal rate since 2011.

Did the Colorado Minimum Wage Go Up?

The graphic below highlights the Colorado minimum wage over the past several years. As you can see, the minimum wage has been increasing on a gradual and steady basis in Colorado, with no real significant increases. The biggest increase in recent years has been the most recent one.

If you are a full-time worker on Colorado state minimum wage, your earnings could be as follows:

  • Daily Minimum Wage: $109.20 (based on an 8-hour day).
  • Weekly Minimum Wage: $546 (based on a 40-hour week).
  • Yearly Minimum Wage: $28,392 (based on being paid 52 weeks per year).

You can view and download the Colorado minimum wage labor law poster for 2022-2023 here at no charge. Employers must display an official poster outlining the requirements of the Fair Labor Standards Act (FLSA), ensuring that accurate employee time and pay records are kept.

2023 represents a monumental year for the Colorado state minimum wage, with the wage increasing from $12.56 to $13.65. This $1.09 increase is the largest increase in Colorado’s minimum wage ever, much to the delight of the locals.

For further information about the Colorado state minimum wage and the records, you must keep as an employer in the state of Colorado, head over to the Colorado Department of Labor and Employment website.

There are many interesting facts about Colorado that you probably haven’t heard of. Feel free to check out a comprehensive list of them that also includes some very important economic facts if you are looking to start your own business or franchise or get a job in the state.

Another financial benefit that Colorado has is that the income tax rate in the state is a flat rate of 4.63%. So, if you are earning the Colorado minimum wage of $13.65 per hour, your gross annual pay for a full-time position of 40 hours per week would be $28,392 and you would then pay a Colorado state income tax rate of 4.63% on this. Even if you earned $100,000 in wages, you will still pay the same flat 4.63%.

Colorado Minimum Wage History

The table below provides the history of Colorado’s minimum wage over the years since 1983. You can see when there were increases in the minimum wage, how much they were, and what percentage increase it represents.

StateMinimum Wage$ Wage Increase% Increase
Colorado Minimum Wage 2023$13.65$1.098.6%
Colorado Minimum Wage 2022$12.56$0.241.9%
Colorado Minimum Wage 2021$12.32$0.322.7%
Colorado Minimum Wage 2020$12.00$0.908.1%
Colorado Minimum Wage 2019$11.10$0.908.8%
Colorado Minimum Wage 2018$10.20$0.909.6%
Colorado Minimum Wage 2017$9.30$0.9911.9%
Colorado Minimum Wage 2016$8.31$0.080.9%
Colorado Minimum Wage 2015$8.23$0.232.8%
Colorado Minimum Wage 2014$8.00$0.222.8%
Colorado Minimum Wage 2013$7.78$0.141.8%
Colorado Minimum Wage 2012$7.64$0.283.8%
Colorado Minimum Wage 2011$7.36$0.121.6%
Colorado Minimum Wage 2010$7.28$00%
Colorado Minimum Wage 2009$7.28$0.263.7%
Colorado Minimum Wage 2008$7.02$00%
Colorado Minimum Wage 2007$6.15$119.41%
Colorado Minimum Wage 2006$5.15$00%
Colorado Minimum Wage 2005$5.15$00%
Colorado Minimum Wage 2004$5.15$00%
Colorado Minimum Wage 2003$5.15$00%
Colorado Minimum Wage 2002$5.15$00%
Colorado Minimum Wage 2001$5.15$00%
Colorado Minimum Wage 2000$5.15$00%
Colorado Minimum Wage 1999$5.15$00%
Colorado Minimum Wage 1998$5.15$00%
Colorado Minimum Wage 1997$5.15$0.408.52%
Colorado Minimum Wage 1996$4.75$0.5011.76%
Colorado Minimum Wage 1995$4.25$00%
Colorado Minimum Wage 1994$4.25$00%
Colorado Minimum Wage 1993$4.25$00%
Colorado Minimum Wage 1992$4.25$00%
Colorado Minimum Wage 1991$4.25$0.4511.84%
Colorado Minimum Wage 1990$3.80$0.4513.43%
Colorado Minimum Wage 1989$3.35$00%
Colorado Minimum Wage 1988$3.35$00%
Colorado Minimum Wage 1987$3.35$00%
Colorado Minimum Wage 1986$3.35$00%
Colorado Minimum Wage 1985$3.35$00%
Colorado Minimum Wage 1984$3.35$00%
Colorado Minimum Wage 1983$3.35$00%

Additionally, there is a Colorado minimum wage history graphic and also a downloadable and free Colorado minimum wage PDF guide that you can download and use as a reference whenever you want.

Colorado Minimum Wage History – Downloadable PDF

Colorado Minimum Wage Exemptions

In addition to the regular minimum wage rate, there are a few Colorado state minimum wage exemptions that typically depend on your age or employment situation. Below are the various minimum wage exemptions with some situational examples.

Colorado Student Minimum Wage

The minimum wage for student employees in Colorado is 85% of the Colorado minimum wage, making their hourly pay $11.60 per hour in 2023.

This hourly rate is for any hours worked up to 20 hours per week. As a student employee, once you surpass 20 hours per week, you will be eligible to be paid the Colorado minimum wage rate of $13.65 per hour.

Being a student can be financially challenging, leading many students to pick up part-time jobs to make extra money while studying. Despite a student minimum wage rate, many Colorado employers will not necessarily follow it and pay you equal to or more than the statewide minimum wage.

Many work-study programs are available at universities, which is a route many students go down. Still, coffee shop, cafe, bar, and restaurant jobs are commonly taken by students as they can work them into their class schedule.

Colorado Under 20 Minimum Wage

If you are under 20 years old in Colorado, federal law allows your employer to pay you as little as $4.25 per hour for your first 90 days of employment.

Once the 90-day period is over, you will be eligible to be paid the 2023 Colorado minimum wage of $13.65 per hour or potentially even more.

Fortunately for young workers, this is 90 calendar days and not 90 working days; therefore, it can be completed relatively quickly and within about three months.

Colorado Tipped Minimum Wage

If you are a tipped employee in Colorado (someone who receives regular tips as a part of their job) then you are eligible to be paid a minimum wage of $10.63 per hour, with a tip credit of $3.02 per hour, ensuring that you reach the statewide minimum wage regardless if you make enough hourly tips.

Colorado Overtime Minimum Wage

Once you work over 40 hours a week, you are eligible to be paid an overtime rate of 1.5 times your hourly wage for every hour you work past 40. So, the overtime Colorado state minimum wage is $20.48 per hour, 1.5 times the minimum wage of $13.65 per hour.

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Jason Coles

Jason Coles is the Founder of Foreign USA and its Chief Content Writer and Editor. Recognized as a prolific business plan writer by many prominent immigration attorneys in the U.S., Jason has written over 1,200 business plans over the past 16+ years for start-ups looking to establish and expand their footprint in the United States.