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The Minnesota Department of Revenue (MNDOR) is an agency of the U.S. state of Minnesota. It manages and enforces the reporting, payment, and receipt of taxes owed to the state, as well as some other fees. [1] As of 2017, the department administered more than 30 taxes totaling almost $21 billion per year. [2]
Income taxes are high in Minnesota, where the effective tax rate is 5.52%. In addition, the state has higher property taxes. Minnesota is one of the least tax-friendly states in the U.S.
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
Minnesota has a progressive income tax structure; the four brackets of state income tax rates are 5.35%, 7.05%, 7.85%, and 9.85%. [122] As of 2008 Minnesota was ranked 12th in the nation in per capita total state and local taxes. [123] In 2008 Minnesotans paid 10.2% of their income in state and local taxes; the U.S. average was 9.7%. [123]
For most taxpayers, the deadline for filing 2021 state taxes in Minnesota is April 18, 2022. Residents and businesses may be eager to know when their state tax refunds will arrive. However, knowing...
Minnesota property taxes rose $2.5 billion, more than the previous 16 years combined, and Moody's lowered the state's bond rating. [44] Carlson told Time, "I don't think any governor has left behind a worse financial mess than [Pawlenty] has." Pawlenty responded, "My friend governor Arne Carlson is, of course, now an Obama and John Kerry ...
The state imposes a use tax on items purchased elsewhere but used within Minnesota. Owners of real property in Minnesota pay property tax to their county, municipality, school district, and special taxing districts. The overall state and local tax burden is calculated to average 11.9% in 2006, ranking 4th highest in the country. [32]
The session is considered notable for the passage of the "Minnesota Miracle", [1] a legislative package aimed at lowering local property taxes and eliminating wide fiscal disparities between school districts and local governments caused by differences in property wealth.