April 16, 2008

Minnesota Taxes

State of Minnesota at Armstrong Elementary Yesterday was tax day in the United States. Minnesota's personal income tax system consists of three separate brackets. Here is the breakdown for the 2008 tax year for a married couple filing jointly:

5.35% $0 to $31,860
7.05% $31,861 to $126,580
7.85% $126,580 and greater

Among states levying personal income taxes, Minnesota's top rate ranks 10th highest nationally. Minnesota's 2005 individual income tax collections were $1,237 per person, which ranked 6th highest nationally.

Interesting Links Of the Day: Minnesota Income Tax Rates

Minnesota Wild vs Colorado Avalanche Update Series: The series is tied 2-2
Game 5: Thursday, April 17 @ 8:00 [CT]
Game 6: Saturday, April 19 @ TBA [CT]


Jim Klenke said...

No state tax in Texas.

Steve Cuddihy said...

I'll be talking to my boss about relocating the company to Texas this morning.

Rob said...

Had o write 2 big checks. When is tax freedom day? June?

Unknown said...

Well at least you are funding a new generation of terrorists in IGH! Nothing like compelling Minnesotans to pay for kiddos studying the Koran and mandatory after school Islamic studies!?! One thing that left me reeling for our brief move-back-to-MN was how insanely liberal the whole area is! I just don't remember it being that way growing up!