(a) Except as provided in section 387-9 and this section, every employer shall pay to each employee employed by the employer, wages at the rate of not less than:
(1) $6.25 per hour beginning January 1, 2003;
(2) $6.75 per hour beginning January 1, 2006;
(3) $7.25 per hour beginning January 1, 2007;
(4) $7.75 per hour beginning January 1, 2015;
(5) $8.50 per hour beginning January 1, 2016;
(6) $9.25 per hour beginning January 1, 2017;
(7) $10.10 per hour beginning January 1, 2018;
(8) $12.00 per hour beginning October 1, 2022;
(9) $14.00 per hour beginning January 1, 2024;
(10) $16.00 per hour beginning January 1, 2026; and
(11) $18.00 per hour beginning January 1, 2028.
(b) The hourly wage of a tipped employee may be deemed to be increased on account of tips if the employee is paid no less than:
(1) 25 cents;
(2) 50 cents per hour beginning January 1, 2015;
(3) 75 cents per hour beginning January 1, 2016;
(4) $1.00 per hour beginning October 1, 2022;
(5) $1.25 per hour beginning January 1, 2024; and
(6) $1.50 per hour beginning January 1, 2028,
below the applicable minimum wage by the employee's employer and the combined amount the employee receives from the employee's employer and in tips is at least 50 cents more than the applicable minimum wage; provided that beginning January 1, 2015, the combined amount the employee receives from the employee's employer and in tips is at least $7.00 more than the applicable minimum wage.