Minnesota Income Tax Calculator (2024)

Estimate your take-home pay and all taxes in Minnesota for 2024!
Our Minnesota Income Tax Calculator provides a fast, accurate breakdown of your federal, MN state, and FICA taxes, including deductions, dependents, and pay frequency. Instantly see your annual and per-paycheck results, interactive charts, and a transparent calculation process.
This tool gives you clarity on your net pay and tax obligations. Updated for 2024 brackets and rules.

Minnesota Income Tax Calculator

Calculating for Tax Year 2024
Disclaimer: This is a basic estimate for Tax Year 2024 for informational purposes ONLY. It uses standard deductions or your itemized estimate and limited filing statuses. It does not account for all credits or complexities and is not tax advice. Visit the official Minnesota Department of Revenue.

Understanding Minnesota Taxes (2024)

Calculating your Minnesota taxes involves understanding the state's progressive tax system, federal obligations, and FICA contributions. This calculator helps you estimate your take-home pay by considering these key components.

Minnesota State Income Tax

Minnesota has a progressive income tax system with four tax brackets for 2024, ranging from 5.35% to 9.85% depending on your income and filing status.

  • Tax Brackets: Minnesota has four tax brackets with rates of 5.35%, 6.8%, 7.85%, and 9.85%.
  • Taxable Income: Minnesota's starting point is your federal adjusted gross income (AGI) with Minnesota-specific adjustments.
  • Standard Deduction: Minnesota follows the federal standard deduction amounts: $14,100 for Single and Married Filing Separately, $28,200 for Married Filing Jointly, $21,150 for Head of Household (2024).
  • Dependent Exemption: Minnesota offers a dependent exemption of $4,950 per dependent for 2024.
  • Tax Credits: Minnesota offers various credits including the working family credit, K-12 education credit, and child and dependent care credit, which this calculator does not account for.

Local Taxes

Minnesota does not have local income taxes. The state income tax is the only income tax that Minnesota residents pay to the state.

Federal Income Tax

Federal income tax is based on federal tax brackets, your filing status, deductions (standard or itemized), and allowances claimed on your W-4. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.

FICA Taxes (Social Security & Medicare)

FICA taxes fund Social Security and Medicare. These are typically withheld by employers.

  • Social Security: 6.2% on income up to the annual limit ($168,600 for 2024).
  • Medicare: 1.45% on all income. An additional 0.9% Medicare tax applies to income above certain thresholds ($200,000 for Single, $250,000 for MFJ).

Other Minnesota Taxes (Not Calculated Here)

While this calculator focuses on income taxes, be aware of other taxes in Minnesota:

  • Sales Tax: Minnesota has a state sales tax of 6.875%, with additional local sales taxes in many areas.
  • Property Tax: Property taxes in Minnesota are administered at the local level and vary by municipality.
  • Estate Tax: Minnesota has an estate tax on estates valued over $3 million for 2024.

Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.