What is Prevailing Wage?
Basics of Prevailing Wage Rates in Missouri
The Missouri Department of Labor requires a contractor to maintain certified payroll records. These records and an Affidavit of Compliance must be submitted before the final payment.
Changes in the Prevailing Wage Rate
Each year on July 1 this new wage order is released. It lists the prevailing wage rates for the next year in each county.
Contractors should refer to the date of the bid advertisement to determine what wage rates must be used for the project.
On projects that are valued at $10,000 or less there is not a requirement for a competitive bidding process.
Holiday pay is twice the total amount of wages and fringe benefits combined.
Have any questions about prevailing wage laws? Let us know and one our Certified Payroll Specialist will be in touch.
The material presented here is educational in nature and is not intended to be, nor should be relied upon, as legal or financial advice. Please consult with an attorney or financial professional for advice.