Minnesota Taxes 2013

Minnesota Tax Guide

This is a brief summary of the taxation policy followed in the state of Minnesota. It describes the different categories of taxes imposed on the citizens of Minnesota.

Minnesota Income Tax

• There are three tax brackets in the state of Minnesota, 5.35%, 7.05% and 7.85%.
• There are two different taxes for single and married taxpayers respectively.
• Single taxpayers, for example have to pay tax at a rate of 5.35% on the first $22,770 of their taxable income.
• On the other hand, married couples are liable to pay 5.35% on the first $33,280 of their taxable income.
• The full details of these taxes can be obtained from the official website of Minnesota’s Revenue Department.
• Annual income tax returns have to be filed on the 15th of April each year or the next working day if the 15th falls on a weekend or a public holiday.

Minnesota Sales Tax

• There was an increase to 6.875% in sales tax from 1 July 2009.
• The state tax department of Minnesota is responsible for administering sales tax for many local governments.
• There is also a “use tax” which is applicable to goods purchased outside the state but used in Minnesota.

Minnesota Property Tax

• The property tax bills get generated and are delivered to property owners each spring.
• There are three factors affecting the amount of tax on the bill which the local governments (county, town or city).
• The three factors are the amount spending by the governments for the community, the classification of property (determined by the state legislature) and the estimated market value of the property.
• The “county property assessor” is responsible for the final classification of the property in question. The property is assigned its own category – apartment, home, business, farm or cabin.
• The percentage of tax to be levied is determined by the state legislature.
• There are two programs of property tax refund for homeowners in Minnesota, namely the regular property tax refund and the special property tax refund
• The eligibility for the above refunds depends on the size of the property, and the income of the property owners.

Minnesota Estate and Inheritance Taxes

• Minnesota has not adopted the federal changes to tax law.
• Form M706 instructions acts as a guide for the determination what is called the “federal gross estate” and also for calculation of Minnesota estate tax.
• Inheritance Tax is not collected in Minnesota.

Prior Year M1 Minnesota Individual Income Tax Forms

Where to Mail FEDERAL IRS Tax Forms Within Minnesota:

Minnesota Tax Help

Where's My Refund?
651-296-3781

Taxpayer Rights Advocate:
(651) 556-6013

Collections:
(651) 296-3457