MN is close to the top in the nation for tax burden

By KBJR News 1

MN is close to the top in the nation for tax burden

April 2, 2014 Updated Apr 2, 2014 at 12:59 PM CDT

Washington, D.C. (NNCNOW.com) --- Minnesota is sixth in the nation for its state–local tax burden. Minnesota taxpayers paid 10.7% of their collective incomes in 2011 compared to the average 9.8%. These statistics come from the Annual State–Local Tax Burdens report.

The Tax Foundation lays out the key findings of the study:
–On average Minnesota taxpayers pay more to their own state and local governments (73 percent of total taxes).
–Taxes paid within states of residence decreased on average in 2011, while taxes paid to other states increased, leading to a slight decrease in total burden.
–During the 2011 fiscal year, state–local tax burdens, as a share of state incomes, decreased on average. This trend was largely driven by the growth of income in all states.
–In 2011, the residents of New York, New Jersey, and Connecticut had the highest state–local tax burdens.
–Residents of Wyoming paid the lowest percentage of income in 2011 at just 6.9 percent.

Ramona Marozas