Each new year brings new legislation, and as 2023 draws to a close, Missouri has raised the minimum wage to $12.30 per hour for private employers. Up 30 cents from 2023, the Department of Labor explained that the wage rate for private and non-exempt businesses is now based on the increase or decrease of the cost of living per the Consumer Price Index. For those employees on tipped wages, a total of half of the state’s minimum wage will also rise. The new rates for tipped employees will increase from $6 an hour to $6.15 hourly plus any additional funds after tips to bring their pay rate to the state minimum of $12.30. “Employers engaged in retail or service businesses whose annual gross income is less than $500,000 are not required to pay the state minimum wage rate,” read the update from the Missouri Department of Labor website. “Employers not subject to the minimum wage law can pay employees wages of their choosing.” In addition, Missouri House Bill 417 has also taken effect as…