Minnesota Income Tax Calculations For Tax Year 1998
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2Minnesota Income Tax Calculations for Tax Year 1998
I.
Married Filing Jointly
A.
Minnesota Taxable income under $75,000.
1.
Determine midpoint of $100 brackets ($0 - $20 of taxable income in first bracket has a tax of zero.)
2.
Apply following rates to that midpoint:
Taxable Income
but
at least
less than
Tax Computation
$
0
-
$ 24,800
$0 plus 6.0% of excess over $0
24,800
-
75,000
$1,488 plus 8.0% of excess over $24,800
B.
Minnesota taxable income $75,000 or over - apply the following rates:
Taxable Income
but
at least
less than
Tax Computation
$ 75,000
-
$ 98,540
$5,504 plus 8.0% of excess over $75,000
98,540
-
And Over
$7,387 plus 8.5% of excess over $98,540
II.
Single Head of Household
A.
Minnesota taxable income under $75,000.
1.
Determine midpoint of $100 brackets ($0 - $20 of taxable income in first bracket has a tax of zero.)
2.
Apply following rates to that midpoint:
Taxable Income
but
at least
less than
Tax Computation
$
0
- $ 20,890
$0 plus 6.0% of excess over $0
20,890
-
75,000
$1,253 plus 8.0% of excess over $20,890
B.
Minnesota taxable income $75,000 or over - apply the following rates:
Taxable Income
but
at least
less than
Tax Computation
$ 75,000
-
$ 83,930
$5,582 plus 8.0% of excess over $75,000
83,930
-
And Over
$6,297 plus 8.5% of excess over $83,930
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