Minnesota Tax FAQs

• taxmOuth Minnesota Tax FAQs

Minnesota Tax Forms

• taxmOuth Minnesota Tax Forms

Minnesota Corporate Taxes

• taxmOuth Minnesota Corporate Taxes
• Minnesota Tax Rates & Brackets:
  
  9.8%> $0
  
• Loss Carry-back/fwd: 0 Years Back / 15 Years Forward (Unlimited)
• Throwback Sales?: N
• Foreign Tax Deductible?: N
• Alternative Minimum Tax (AMT): Y
• Gross Receipts Tax: 0.98%
• Capital Stock (Net Worth) Tax?: N

Minnesota Tax Incentives and Credits

• taxmOuth Minnesota Tax Credits
• Job Credits?: Y
• R&D Credits?: Y
• Investment Credits?: N

Minnesota Individual Income Taxes

• taxmOuth Minnesota Individual Income Taxes
• Minnesota tax rates and brackets:
  
  5.35%> $0
  4%> $5,000
  5%> $10,000
  
• Local Option IT Rate: None
• Federal Inc used as Base?: Y
• Standard Deductions: Single $5,450 / Joint $10,900
• Personal Exemptions/Credits (c): Single $3,500 / Joint $7,000 / Dependent $3,500
• Federal Tax Deductible?: N
• State Tax Deductible?: Y
• Alternative Minimum Tax (AMT)?: Y

Minnesota Estate, Gift and Inheritance Taxes

• taxmOuth Minnesota Estate and Gift Taxes
• Gift Tax?: N
• Estate Tax?: Copies Federal
• Inheritance Tax?: N
• Generation-Skipping Tax?: N

Minnesota Miscellaneous Taxes

• taxmOuth Minnesota Miscellaneous Taxes
• Gas Tax: 22.0 cents/gallon
• Diesel Tax: 22.0 cents/gallon
• Cigarette Tax: 150.4 cents/20 pack

Minnesota Pass-through Tax Treatment

• taxmOuth Minnesota Pass-through Entity Tax
• LLC Pass-through Recognized?: Y
• S-Corp Pass-through Recognized?: Y

Minnesota Payroll Taxes

• taxmOuth Minnesota Payroll Taxes
• Unemployment Insurance Tax Index (TaxFoundation.org): #38

Minnesota Property Taxes

• taxmOuth Minnesota Property Taxes
• Median Tax Paid on Homes (Rank): $2,019 (#19)
• Median Value of Homes: $213,800
• Tax as % of Home Value (Rank): 0.94% (#22)
• Median Income of Homeowner: $69,515
• Tax as % of Income (Rank): 2.90% (#21)

Minnesota Sales and Use Taxes

• taxmOuth Minnesota Sales and Use Taxes
• State Rate: 6.88%
• County & City (Weighted Ave): 0.34%
• Combined State and Ave. Local Rates (Rank): 7.22% (#14)
• General Treatment of Services: Many Taxable
• Gasoline: Exempt
• Groceries: Exempt