| Sales Tax | |
| Total Bracket Combined state, county and municipal sales tax |
6.5% |
| Total Amount Combined state, county and municipal sales tax amount based on amount of taxable goods bought annually |
$1,018 |
| State Bracket State sales tax bracket |
6.5% |
| Local Bracket Local sales tax bracket |
0% |
| Food Bracket Food sales tax bracket |
0% |
| Income Taxes | |
| Total Effective Bracket Actual percentage of income paid in income taxes |
17.67% |
| Federal Bracket Federal income tax bracket. 50,000 income for family with 2 children is used by default. |
15% |
| Federal Effective Bracket Acutal percentage of income paid in federal income taxes |
6.96% |
| State Bracket State income tax bracket |
5.35% |
| State Effective Bracket Acutal percentage of income paid in state income taxes |
3.06% |
| Local Bracket Local income tax bracket |
0% |
| Federal Amount Federal income tax amount |
$2,784 |
| State Amount State income tax amount |
$1,225 |
| Local Amount Local income tax amount |
$0 |
| Socail Security and Medicare Amount Social Security and Medicare income annual tax amount |
$3,060 |
| Total Amount Annual amount paid in taxes |
$7,069 |
Source: Town Hunter - Powered by TriVee, Inc.
Related Links:
Minnesota Income Tax Rates
323 East Blue Earth Avenue
P.O. Box 826
Fairmont, MN 56031
www.fairmontchamber.org
info@fairmontchamber.org
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