Minnesota Income Tax Calculations For Tax Year 1998 Page 2
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1
2-2-
1998 (Continued)
III.
Single
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
-
$ 16,960
$0 plus 6.0% of excess over $0
16,960
-
55,730
$1,018 plus 8.0% of excess over $16,960
55,730
-
75,000
$4,119 plus 8.5% of excess over $55,730
B. Minnesota taxable income $75,000 or over - apply the following rates:
Taxable Income
but
at least
less than
Tax Computation
$ 75,000
-
And Over
$5,757 plus 8.5% of excess over $75,000
IV. Married Filing Separately
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
-
$ 12,400
$0 plus 6.0% of excess over $0
12,400
-
49,270
$744 plus 8.0% of excess over $12,400
49,270
-
75,000
$3,694 plus 8.5% of excess over $49,270
B. Minnesota taxable income $75,000 or over - apply the following rates:
Taxable Income
but
at least
less than
Tax Computation
$ 75,000
-
And Over
$5,881 plus 8.5% of excess over $75,000
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