iCalculator™ US: Minnesota Tax Calculators
Welcome to iCalculator™ US, your comprehensive suite of free tax calculators for Minnesota. iCalculator™ has provided free tax calculators for Minnesota since 2014. Since those early days we have extended our resources for Minnesota to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. View all tax calculators and tools in the Minnesota Tax Hub or use the Minnesota Tax Calculator for 2025 (2026 Tax Return).
Minnesota Tax Calculator 2025/26
The Minnesota Tax Calculator is for the 2025 tax year which means you can use it for estimating your 2026 tax return in Minnesota, the calculator allows you to calculate income tax and payroll taxes and deductions in Minnesota. This includes calculations for
- Employees in Minnesota to calculate their annual salary after tax.
- Employers to calculate their cost of employment for their employees in Minnesota.
The Minnesota Tax Calculator for 2025 encompasses a comprehensive suite of features to cater to your tax calculation needs. Key features include detailed calculations for Federal Income Tax based on the latest tax tables and allowances, FICA contributions covering both Social Security and Medicare, and automatic calculations for the Earned Income Tax Credit (EITC). Additionally, it allows for the consideration of retirement plan contributions, including 401(k), 403(b), SARSEP, and 457 plans, as well as SIMPLE plans, with specific limits for 2025. The calculator also supports Schedule A (Form 1040) for Federal Itemized Deductions, local tax calculations, and the inclusion of additional taxes or deductions.
For those seeking a deeper understanding and more detailed information on these features, including how they apply to your individual tax situation, it's recommended to view the comprehensive instructional overview here. This additional resource provides extensive insights into each feature, ensuring you can maximize your tax deductions and credits effectively for the 2025 tax year.
Discover Minnesota, United States
Minnesota, known as the "Land of 10,000 Lakes", is situated in the Upper Midwest and northern regions of the United States. It shares its borders with Canada to the north, specifically the provinces of Manitoba and Ontario, North Dakota and South Dakota to the west, Iowa to the south, and Wisconsin to the southeast. To the northeast, Minnesota is bordered by the largest of the Great Lakes, Lake Superior. The state's geography is marked by its numerous lakes and forests, making it a popular destination for outdoor activities and contributing to its natural beauty.
Minnesota's cultural heritage is rich and diverse, influenced by both its Native American roots and the waves of European immigrants, particularly Scandinavians and Germans. This cultural blend is reflected in its arts, traditions, and cuisine. The state is also known for its progressive political orientation and strong educational system.
The economy of Minnesota is robust and diverse, supported by several key industries:
- Agriculture: The state is a major producer of corn, soybeans, sugar beets, and livestock, making agriculture a significant part of its economy.
- Manufacturing: Manufacturing is another vital sector in Minnesota, including medical devices, electronics, machinery, and food processing.
- Healthcare and Medical Research: Minnesota is renowned for its healthcare sector, with the Mayo Clinic in Rochester being a world-leading medical research and treatment facility.
- Services: The service sector, including education, finance, insurance, and retail, plays a crucial role in the state's economy.
Additionally, Minnesota's economy benefits from its rich natural resources, leading to thriving mining and timber industries.
For more detailed information about the neighboring states and provinces, you can visit their respective pages at Manitoba, Ontario, North Dakota, South Dakota, Iowa, and Wisconsin.
Overview of Taxation in Minnesota, United States
In Minnesota, taxpayers are subject to a combination of federal and state taxes. This overview will focus on the state-level taxes in Minnesota, outlining the different types and their compliance requirements.
State Tax Types in Minnesota
Income Tax: Minnesota imposes a state income tax on its residents. This tax is structured progressively, with rates increasing as income levels rise. It applies to all forms of income, including wages, business earnings, and investments.
Sales Tax: The state also levies a sales tax on the purchase of goods and services. In addition to the state rate, local jurisdictions in Minnesota may add additional sales taxes.
Property Tax: Property taxes in Minnesota are collected at the local level. These taxes, based on the assessed value of properties, are a crucial source of funding for local services and infrastructure projects.
Corporate Tax: Businesses operating in Minnesota are subject to corporate income tax. The rate and rules of this tax vary depending on the type and income level of the corporation.
Other Taxes: Minnesota imposes other types of taxes, such as excise taxes on specific goods like gasoline and tobacco, and estate taxes, among others.
Tax Compliance in Minnesota
Compliance with Minnesota's tax laws is overseen by the Minnesota Department of Revenue. Taxpayers, both individuals and businesses, are required to file annual tax returns and make necessary payments based on their tax liabilities. The state offers electronic filing and payment systems to facilitate compliance and ensure accuracy in tax reporting.
Understanding the tax system in Minnesota is important for residents and businesses to ensure they meet their legal obligations and support the state's public services and infrastructure. The diverse tax structure in Minnesota reflects its commitment to funding a wide range of public services, from education to transportation and health care.