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Minnesota Department of Revenue, Minnesota Tax

We’re Just Not Annoying®

MINNESOTA BUSINESS CORPORATE TAX, MINNESOTA PERSONAL INCOME TAX, MINNESOTA SALES TAX RATES

What is the Minnesota corporate net income tax rate?

9.8%

There is a 5.8% minimum tax on value, if there is property owned in Minnesota.

What are the Minnesota personal net income tax rates?

0-22,730 5.35%
22,730-74,650 7.05%
74,650 + 7.85%

What is the average Minnesota sales tax rate?

7.22%
The state has a 6.88% tax, but the average local tax is .34% making a total of 7.22% The Mall of America has no sales tax though!!

Are there standard deductions?

Single: $5,450
Joint: $10,900

Are there personal exemptions?

Single: $3,500
Dependents: $3,500

What forms do you file for your Minnesota taxes?

Minnesota corporations: Form M4
S corporations: Form M8
Partnerships: Form M3
Individual: Form M1

To learn more about nonprofit filings, see our Minnesota nonprofit corporation page.

Estimated tax payments?

Form M18 for corporations that have more than a $500 liability for taxes. Minnesota follows the IRS standards for estimated payments. If you will owe $500 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year. Individuals file form M14.

Minnesota Department of Revenue:

Minnesota Department of Revenue
600 North Robert St.
St. Paul , MN 55101
Telephone: 651-556-3075
Website:  http://www.taxes.state.mn.us/

If you use Northwest Registered Agent as your Minnesota LLC or corporation, receive notification reminders to file your annual reports on time, annual tax reminders, and new state information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new Minnesota businesses for only $100.

Corporate Compliance
by Local Corporate Guides®