Search results
- Minnesota has a graduated rate income tax. It starts at 5.35 percent for lower-income residents, increasing gradually to 9.85 percent.
states.aarp.org › minnesota › state-taxes-guide
Find the current and historical income tax rates and brackets for Minnesota residents and nonresidents. The rates and brackets are adjusted annually based on the rate of inflation and the law.
People also ask
What is the state sales tax rate in Minnesota?
What are the income tax brackets in Minnesota?
What items are exempt from the Minnesota state sales tax?
What is the Minnesota state tax rate for single filers?
Nov 29, 2022 · The Minnesota Department of Revenue provides the inflation-adjusted income tax brackets and rates for tax year 2023. The state's individual income tax brackets will change by 7.081 percent from tax year 2022.
Minnesota has a graduated state individual income tax, with rates ranging from 5.35 percent to 9.85 percent. Minnesota has a 9.8 percent corporate income tax rate. Minnesota also has a 6.875 percent state sales tax rate and an average combined state and local sales tax rate of 8.04 percent.
Find out the Minnesota income tax rates and brackets for tax year 2023, as well as deductions, forms, and calculator. Compare the Minnesota tax brackets with the Federal tax brackets and learn how to file your Minnesota tax return online.
Mar 5, 2024 · The big picture: Income tax: 5.35–9.85 percent. Minnesota has a graduated rate income tax. It starts at 5.35 percent for lower-income residents, increasing gradually to 9.85 percent. Property tax: 1.11 percent of a home’s assessed value (average) Real estate taxes vary, depending where you live.
Estimate your Minnesota state taxes for the 2023-2024 tax year with this online calculator. See the state tax brackets, rates, deductions and credits for different filing statuses.
Find out the Minnesota income tax brackets, rates, deductions, credits, and forms for tax year 2024. Compare Minnesota's income tax with other states and use the free calculator to estimate your tax liability.