The Effective Tax Rates of Minnesota Income Earners

10%

Pay 9.32% Effective Tax Rate Middle 79% of wage earners

Pay 9.08% Effective Tax Rate 32% HIGHER TAX BURDEN Middle 79% of wage earners

·

9%

35.9% HIGHER TAX BURDEN

8%

The Effective Tax Rate provides the most accurate view of someone’s total tax burden. It factors in all state and local income, property, sales and excise taxes and federal deductions of these taxes. The bottom 20% of earners are left out of these comparisons for accuracy. That group often includes people who draw from sources other than just income.
Source: Institute on Taxation and Economic Policy, a non-profit, non-partisan research organization working on state, federal and local tax policy issues.

7%

Pay 6.6% Effective Tax Rate

·

Pay 6.2% Effective Tax Rate Top 1% of wage earners

6%

Top 1% of wage earners

5%

2007 Income
MIddle 79% = $23,000 - $480,000 Top 1% = $480,001 and above

(most recent available)

2010 Income

Sign up to vote on this title
UsefulNot useful