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Minnesota income tax brackets for 2018

FOR IMMEDIATE RELEASE December 27, 2017 Media contact: Ryan Brown Ryan.brown@state.mn.us Minnesota income tax brackets for 2018 ST PAUL, Minn.

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Text of Minnesota income tax brackets for 2018

FOR IMMEDIATE RELEASE December 27, 2017 Media contact: Ryan Brown Minnesota income tax brackets for 2018 ST PAUL, Minn. The Minnesota Department of Revenue announced the adjusted 2018 individual income tax brackets. For tax year 2018, the state s individual income tax brackets will change by percent from tax year 2017. This annual adjustment will prevent taxpayers from paying taxes at a higher rate solely because of inflationary changes in their income. Indexing for inflation of individual income tax brackets is required by law and first began in 1979. The brackets are adjusted annually by an inflation factor, rounded to the nearest $10, based on the change in the Consumer Price Index for all urban consumers. The adjustment does not change the Minnesota tax rate that applies to each income bracket. The brackets apply to tax year 2018. Taxpayers who make quarterly payments of estimated tax should use the following rate schedule to determine their payments, which are due starting in April 2018. 2018 Minnesota Income Tax Brackets Up To Over Married Joint $ 37,850 $37,851 - $150,380 $150,381 - $266,700 $266,700 Married Separate $ 18,930 $18,931 - $ 75,190 $ 75,191 - $133,350 $133,350 Single $ 25,890 $25,891 - $ 85,060 $ 85,061 - $160,020 $160,020 Head of Household $ 31,880 $31,881 - $128,090 $128,091 - $213,360 $213,360 Get the latest news and updates from the Minnesota Department of Revenue by following the department on Facebook and Twitter or by signing up for our email subscription list. ###

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