Taxes

Taxes

Families in Minnesota should be able to keep as much of their hard-earned income as possible. Minnesota taxpayers are among the highest taxed in the nation. Individuals pay income taxes at every level, from 5.35% for lower income earners, 7.05-7.85% for middle income earners, and 9.85% for higher income earners. In addition, there is a statewide sales tax of 6.875% on most goods and services we purchase. For businesses, there is a flat corporate income tax of 9.8%. These are just a few of the taxes we pay and do not include property taxes, gas taxes, vehicle registration fees, capital gains taxes, and countless other taxes and fees. We are taxed at a much higher rate than our neighboring states and we need to lower our rates in order to relieve the tax burden on our citizens and make us more competitive on the global marketplace.

Avatar
This post was written by

Leave a Reply

Your email address will not be published. Required fields are marked *