Personal Income Tax in Minnesota

April 13, 2006

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If you are a resident or non-resident of Minnesota and receive taxable income individually from property owned or business transacted in Minnesota, you are subject to tax on net income. Therefore, if you are operating your business as an S corporation, partnership, limited liability company (LLC), or a sole proprietorship, you will be subject to a personal income tax on your business income that passes through to you.

For the 2006 tax year, the following rates apply to the amount of income over the exempted amount:

Married Filing Jointly
Taxable Income	Amount of Tax
Over $0, but not over $29,980	5.35%
Over $29,980, but not over $119,100	7.05% of excess over $29,980
Over $119,100	7.85% of excess over $119,100

Head of Household
Taxable Income	Amount of Tax
Over $0, but not over $25,250	5.35%
Over $25,250, but not over $101,450	7.05% of excess over $25,250
Over $101,450	7.85% of excess over $101,450

Married Filing Separately
Taxable Income	Amount of Tax
Over $0, but not over $14,990	5.35%
Over $14,990, but not over $59,550	7.05% of excess over $14,990
Over $59,550	7.85% of excess over $59,550

Single
Taxable Income	Amount of Tax
Over $0, but not over $20,510	5.35%
Over $20,510, but not over $67,360	7.05% of excess over $19,440
Over $67,360	7.85% of excess over $67,360