![]() Military combat zone credit ($1.8 million in fiscal year 2012).Historic structure rehabilitation credit ($10.0 million in fiscal year 2012).Angel investment credit ($12.0 million in fiscal year 2012).K-12 education credit ($13.2 million in fiscal year 2012).Dependent care credit ($14.0 million in fiscal year 2012).Working family (earned income) credit ($201.1 million in fiscal year 2012).Credit for past military service ($1 million in fiscal year 2012).Long-term care insurance credit ($7.9 million in fiscal year 2012).Marriage credit ($65.5 million in fiscal year 2012).Credit for taxes paid to other states ($106.0 million in tax year 2009).This list has been provided by the Minnesota House Research Department. ![]() Here's a list of the most common tax credits, ordered by popularity of the credit. Minnesota allows a variety of refundable and nonrefundable tax credits to be claimed by qualifying taxpayers. Minnesota, like several other states, increases but doesn't double tax bracket widths for married joint filers. You can learn more about how the Minnesota income tax compares to other states' income taxes by visiting our map of income taxes by state.Īs of 2012, approximately 39% of Minnesota's state revenues come from the state income tax. Minnesota's maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Minnesota's %. Like the Federal Income Tax, Minnesota's income tax allows couples filing jointly to pay a lower overall rate on their combined income with wider tax brackets for joint filers. Minnesota collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets.
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