• The CO DOL is sending reminders to review your TPA (Third Party Administrator) for your unemployment insurance (UI) account.
• A TPA is a firm that processes your payroll (if you don't do it yourself). Companies like ADP, Paychex, Square, QB, etc. provide TPA services to businesses.
• If you are keeping the same TPA, no action is required when you receive this notice.
• As noted in an earlier newsletter, you should have also received a notice from the CO DOL with your new UI rate for 2025.
• If you have not done so yet, make sure you have shared this data with your TPA so that your payroll system is updated with your new rate for 2025.

• FAMLI requires you to certify your headcount each year.
• As a reminder, if you have 10 or more employees, you must match the .45% FAMLI premium paid by your employees.
• NEW this year: if your Annual Total Employee headcount is not updated by February 28, 2025, the FAMLI Division will assume you have 10 or more employees and you will be liable for the full 0.9% of wages.

• If you have retail sales that are subject to sales tax in Denver, be advised that the Denver sales tax rate increased as of January 1, 2025
• As a result of a Denver ballot initiative that passed in the 2024 election, the Denver portion of CO sales tax increased from 4.81% to 5.15%.
• The overall Denver sales tax rate is now 9.15% so be sure your point of sale system is updated accordingly.

To reinforce the update we made back in November, please update your payroll system for the new minimum wage rates now in effect.

CO Minimum Wage

• The state minimum wage for CO increased to $14.81 from $14.42 (a 2.7% increase).
• The minimum wage for tipped employees also increased to $11.79 from $11.40 (a 3.4% increase).



Denver Minimum Wage

• Given the number of clients that operate in Denver, please note the minimum wage in Denver increased to $18.81 from $18.29 (a 2.8% increase)
• For tipped employees, the Denver minimum wage increased to $15.79 from $15.27 (a 3.4% increase)

What's the difference between a lawyer and an accountant?

An accountant knows they are boring

Doctor - "I'm sorry but you only have 6 months to live"

Patient - "Oh my God, what should I do?"

Doctor - "Marry an accountant"

Patient - "Why, will that make me live longer?"

Doctor - "No, but it will SEEM longer"