Minn. Has The 6th-Highest Taxes In The U.S., Census Bureau Says
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MINNEAPOLIS (WCCO) — Like the warmer weather, Tax Day is a part of spring.
And your taxes are due exactly one week from Tuesday.
You may be surprised to know that numbers released by the U.S. Census Bureau show Minnesota has the sixth-highest taxes in the country.
That’s factoring in all the taxes Minnesotans can pay.
While we don’t have a clothing tax, Minnesota has the seventh-highest sales tax rate in the nation. And in addition to a high sales tax, Minnesotans pay the seventh-highest excise tax per gallon of gas in the nation.
In fact, on average more than 10 percent of our income goes to taxes according to the Census Bureau.
“It can be skewed a little bit when you weigh out per capita what people pay,” said Tim Myslajek, a managing partner with Myslajek, Kemp and Spencer.
The firm has 7,000 clients across the country and a few overseas. Myslajek said taxing those who make more is one reason Minnesota is high on this list.
“Taxes can be higher if your income is higher, but they can also be a lot lower if your income is lower,” Myslajek said.
However, he said the gas tax helps pay for better roads and levies help pay for better schools.
It’s the price we pay to live where we live.
“I think it all equates to our high standard of living in Minnesota,” he said. “Everything comes with a price.”
While some of Minnesota’s taxes may be higher than other states, Myslajek said we don’t pay some taxes that other states do, like a clothing tax or a “use tax” that Wisconsin pays for iTunes.
Wisconsin is just ahead of us as the fifth-highest taxed state in the nation, according to the Census Bureau.