2024 Minnesota Income Tax Brackets & Rates
Federal and state tax brackets, capital gains rates, and corporate tax rates for Minnesota in tax year 2024.
Federal Income Tax Brackets (2024)
| From | To | Rate |
|---|---|---|
| $0 | $11,600 | 10.00% |
| $11,600 | $47,150 | 12.00% |
| $47,150 | $100,525 | 22.00% |
| $100,525 | $191,950 | 24.00% |
| $191,950 | $243,725 | 32.00% |
| $243,725 | $609,350 | 35.00% |
| $609,350 | ∞ | 37.00% |
Minnesota State Income Tax Brackets (2024)
| From | To | Rate |
|---|---|---|
| $0 | $31,670 | 5.35% |
| $31,670 | $103,980 | 6.80% |
| $103,980 | $193,100 | 7.85% |
| $193,100 | ∞ | 9.85% |
Federal Capital Gains Tax Brackets (2024)
| From | To | Rate |
|---|---|---|
| $0 | $47,025 | 0.00% |
| $47,025 | $518,900 | 15.00% |
| $518,900 | ∞ | 20.00% |
Additional Information
- Federal Corporate Tax Rate
- 21.00%
- State Corporate Tax Rate
- 9.80%
- Federal Standard Deduction (Single)
- $14,600