Ohio Minimum Wage to Increase in 2024

Ohio’s minimum wage is scheduled to increase on January 1, 2024, to $10.45 per hour for non-tipped employees and $5.25 per hour for tipped employees. The minimum wage will apply to employees of businesses with annual gross receipts of more than $385,000 per year. The 2023 minimum wage is $10.10 per hour for non-tipped employees…

New Federal Reporting Requirement for Companies

As of January 1, 2024, Ohio companies have an ongoing reporting requirement under the Corporate Transparency Act (“CTA”). This federal law requires companies to report information about individuals who directly and indirectly own or control the company to the Financial Crimes Enforcement Network (FinCEN). Failure to comply with the reporting obligations under the CTA or…