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Minnesota State Income TaxesMinnesota's income tax return is due the same date as the federal tax return is due - April 15th.
This page:
• Lists basic Minnesota state tax information
• Links to the major Minnesota income tax forms
• Shows you how you can save time and money by e-filing
Prepare your Minnesota taxes online, for free: If you want to avoid costly mistakes, while at the same time taking advantage of all possible credits and deductions, you want to do your taxes online.
TurboTax Online allows you to work on your return for free, until you file. Work on your federal and Minnesota state taxes, and pay nothing until you are satisfied with your return. Start now.
Minnesota state taxes at a glance:Tax Rate Range: Low - 5.35%; High - 7.85% Income Brackets*: Lowest - $20,510; Highest - $67,360 Number of Brackets: 3 Personal Exemptions: Single - $3,300; Married - $6,600; Dependents - $3,300 Standard Deduction: Federal Amount Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None
*Note:The tax brackets reported are for single filers. For married taxpayers filing jointly, the same rates apply to income brackets ranging from $27,350 to $108,660. Filing your Minnesota state income tax returnWhen you file your Minnesota tax return, the filing status you used for your federal return must also be used by your state return. There are no exceptions to this rule.
In the same vein, if you itemize your tax deductions on your federal return, you must also itemize on your state tax return. Also, if you take the standard deduction on one, you must also take the standard deduction on the other.
Although Minnesota allows no additional tax deduction besides the standard or itemized deductions, the state does allow numerous state tax credits. Some of the more common ones are listed below but you can also obtain a full listing of the credits on the Minnesota state tax website.
Common Minnesota tax credits:
• Child and dependent care credit • K-12 Education Credit • Credit for taxes paid to another state • Credit for long term care insurance premiums
Since retirement income is taxable to the state of which you are a resident, you must report any retirement income received from another state on your Minnesota state tax return.
Capital gains are to be reported on your state tax return and taxed at the same rate as the rest of your income.
Finally as a nonresident of Minnesota, you still have to file a Minnesota tax return if you earn wages of more than $7,000 from a Minnesota source.
Sidebar You can work on your Minnesota tax return online while filing your federal return (you can work on it for free, and pay nothing until you are ready to file)
Note: if you are filing more than one state return, you must file a paper return for each additional state, as TurboTax Online only allows one state prep.
Minnesota income tax formsThe main Minnesota tax forms are:
Form M-1 | 2006 Minnesota Individual Income Tax Return
Schedule M1CD | Child and Dependent Care Credit
Schedule M1Ed | K-12 Education Credit
Schedule M1MT | Alternative Minimum Tax
If you need Minnesota income tax forms that are not listed here, you can download them from the Minnesota tax forms site.
Or, just simply e-file!
Additional MN state taxes helpIf you need help with your federal tax return, start with our basic guide to tax filing.
For additional help with filing MN income tax returns, see the official site of the Minnesota Department of Revenue.
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