ST. PAUL, Minn. – The Minnesota Department of Revenue is required by law
to adjust individual income tax brackets for inflation each year. For tax year
2015, the state’s individual income tax brackets will change by 1.58 percent
from tax year 2014. Indexing for inflation of individual income tax brackets
first began in 1979 and has continued every year since, except from 1987 to
1990.
This annual adjustment will prevent taxpayers from paying
taxes at a higher rate solely because of inflationary changes in their income.
The adjustment does not change the Minnesota tax rates that apply to each
income bracket.
The bracket adjustments are
based on the change in the U.S.
Consumer Price Index
for all urban consumers for the average of the 12 months ending August 2014 compared to the average of the twelve months
ending August 2012. The department adjusts the brackets each year by the
inflation factor and rounds the result to the nearest $10.
The brackets apply to tax year 2015. Taxpayers who make
quarterly payments of estimated tax should use the following rate schedule to
determine their payments, which are due starting in April 2015.
2015 Minnesota Income
Tax Brackets |
Marginal Tax Rates
|
5.35%
|
7.05%
|
7.85%
|
9.85%
|
|
Married, Filing Jointly
|
$0—$36,650
|
$36,651—$145,620
|
$145,621—$258,260
|
$258,261
and over
|
|
Married, Filing Separately
|
$0—$18,330
|
$18,331—$72,810
|
$ 72,811—$129,130
|
$129,131
and over
|
|
Head of Household
|
$0—$30,870
|
$30,871—$124,040
|
$124,041—$206,610
|
$206,611
and over
|
|
Single
|
$0—$25,070
|
$25,071—$82,360
|
$ 82,361—$154,950
|
$154,951
and
over
|
Follow the latest news and updates from the Minnesota Department of Revenue on Twitter, Facebook and sign-up for our email subscription list.
