Minnesota

Did You Know?

Minnesota residents boast one of the highest median household incomes in the country (up nearly 17% since 2003), and they also enjoy one of the most consistently low unemployment rates. However, taxpayers face a 10.8% burden and the statewide sales tax fluctuates between 6.875% and 7.875%. The minimum wage is also second lowest in the nation among states that impose them.

Minnesota’s Visual Statistics

  • 131216_TaxBurdenFinals_MinnesotaIndividual Tax Burdens
  • Minnesota-revenueState Tax Revenue Sources
  • Minnesota-weekly-wageAverage Weekly Earnings by State
  • Minnesota-unemploymentUnemployment

Source: U.S. Census Bureau and U.S. Bureau of Labor Statistics

Taxes at a Glance

State Tax Agency Minnesota Department of Revenue
Taxes Paid per Capita $4,727
Property Taxes Paid Per Capita $1,345
Income Taxes Paid Per Capita $1,219
State and Local Tax Collections (in thousands) $24,362,347
Per Capita Income $43,790
Tax Burden 10.8%

Sales Tax Rate in Minnesota

Sales Tax Rate 6.875%
Local Rate Range 6.875 to 7.875%

Tax Rate Range

Low 5.35%
High 7.875%
Number of Income Brackets 3
Lowest $24,270
Highest $79,730
Personal Exemptions
Single $3,900
Married $7,800
Dependents $3,900
Federal Income Tax Deductible? No

General Revenue

General revenue from own sources $38,215,621
Taxes $26,822,750
Property $8,179,949
Sales and Gross Receipts $8,518,126
General Sales $4,762,431
Selective Sales $3,755,695
Motor Fuel $847,897
Alcohol $82,436
Tobacco $421,665
Public Utilities $94,953
Other Selective Sales $230,3717
Individual Income $7,482,396
Corporate Income $1,003,657
Motor Vehicle Licensing $587,553
Other Taxes $1,051,069
Source: United States Census Bureau

Minnesota’s Population, 2003-2012

Minnesota’s current population is the 21st in the nation for total number of residents, representing a 7.1% increase over the last 10 years.

2012 5,379,139
2011 5,347,299
2010 5,303,925
2009 5,281,203
2008 5,247,018
2007 5,207,203
2006 5,163,555
2005 5,119,598
2004 5,087,713
2003 5,053,572
Source: United States Census Bureau

Minnesota’s Five Most Populated Cities

Minneapolis 392,880
St. Paul 290,770
Rochester 108,992
Duluth 86,211
Bloomington 86,003
Source: United States Census Bureau

Minnesota’s Median Household Income

Minnesota’s 2012 median household income was 17.4% above the national average and was ranked 9th in the country.

2012 $61,795
2011 $57,820
2010 $52,321
2009 $56,090
2008 $54,925
2007 $58,058
2006 $56,211
2005 $54,215
2004 $56,104
2003 $52,823
Source: United States Census Bureau

Minnesota’s Employment Data

Minimum Wage $6.15 per hour
Minnesota is tied for the 2nd lowest minimum wage in the United States
Unemployment Rate as of October 2013 4.8%
Historical High 9.1%, December 1982
Historical Low 2.5%, March 1999

Unemployment 2003-2012

2012 5.6%
2011 6.4%
2010 7.3%
2009 8.0%
2008 5.4%
2007 4.6%
2006 4.0%
2005 4.0%
2004 4.7%
2003 5.0%

Minnesota’s Annual Averages for Employee Hours and Wages

Average Weekly Hours Average Hourly Earnings Average Weekly Earnings
2012 33.6 $24.95 $838.32
2011 33.3 $24.54 $817.18
2010 33.0 $23.85 $787.05

Minnesota’s Top 5 Employers

Employer # of MN employees 2012 revenue
University of Minnesota 17,053 n/a
3M Co. 12,000 $29,611,000,000
Hennepin County Medical Center 10,000 $1,673,603,968
Park Nicollet Methodist Hospital 8,000 $767,509,664
University of Minnesota Medical Center 8,000 $3,199,215,360
Courtesy of America’s Care InfoNet

Minnesota’s City-Specific Tax Help

Sources