The Tax Foundation recently released their 2011 Facts & Figures report that compares 32 different tax statistics among all 50 states. Minnesota’s rank in several key areas is rather concerning.
Minnesota ranked 7th highest in the “State and Local Tax Burden Per Capita” category, totaling $4,651 for each resident, more than any of our neighboring states.
In terms of state tax collections per capita, Minnesota ranked eighth highest at $3,270, almost $1,000 more than the national average.
Also troubling was Minnesota’s 43rd place rank in the state business tax climate index. What makes this rank even more significant is that South Dakota was ranked 1st. After reading this disturbing fact about Minnesota taxes, I suspect we’ll hear even more radio advertising from our friends in Sioux Falls, South Dakota.
The Tax Foundation distributes the report to every state legislator and governor in the country to serve as a go-to guide for where states rank on tax rates, collections, burdens, and more. To download and share the study, follow this link to the Tax Foundation website.
This is an important annual gauge of how Minnesota compares in competiveness. We hope you’ll take a few minutes to arm yourself with the facts.
Mon, April 18, 2011