Minnesota (MN) – 2016
Minnesota
| Minimum Wage – If annual gross volume of sales are $500,000 or more: | Minnesota | Federal |
|---|---|---|
| Minimum Wage | $9.50 | |
| Minimum Cash Wage (Tipped Employee) | $9.50 | |
| Maximum Tip Credit | None | |
| Youth Minimum Wage | $7.75 | |
| Minimum Wage – If annual gross volume of sales are less than $500,000: | Minnesota | Federal |
| Minimum Wage | $7.75 | |
| Minimum Cash Wage (Tipped Employee) | $7.75 | |
| Maximum Tip Credit | None | |
| Youth Minimum Wage | $7.75 | |
| State Income Tax | Minnesota | Federal |
| Wage Withholding | Tables | |
| Supplemental Wage / Bonus Rates: Flat rate withholding method (Unchanged from 2016) | 6.25% | |
| Supplemental Wage / Bonus Rates: Pay over $1 Million (Unchanged from 2016) | 6.25% | |
| Unemployment Insurance | Minnesota | Federal |
| Maximum 2017 Taxable Earnings | $31,000 (Unchanged from 2016) | |
| Employee 2017 Deduction | None | |
| Employer 2017 Tax Rates | 0.1 – 9.0% (Plus 0.1% workforce development fee) | |
| Standard 2017 New Employer Rate | 1.59% (Plus 0.1% workforce development fee) | |
| Voluntary Contribution Permitted | Yes |
Federal (FED) – 2016
| Minimum Wage | Federal |
|---|---|
| Youth Minimum Wage | $4.25 |
| Maximum Tip Credit | $5.12 |
| Minimum Cash Wage (Tipped Employee) | $2.13 |
| Minimum Wage | $7.25 |
| FICA (MEDICARE) | Federal |
| Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match) | 0.9% |
| Employee / Employer Tax Rate (Unchanged from 2016) | 1.45% |
| Maximum Taxable Earnings | No Limit |
| FICA (SOCIAL SECURITY) | Federal |
| Employee / Employer Tax Rate (Unchanged from 2016) | 6.2% |
| Maximum Taxable Earnings (Increased from $118,500 in 2016) | $127,200 |
| FUTA (EMPLOYER-PAID) | Federal |
| Normal Net Tax | 0.6% |
| Maximum Credit | 5.4% |
| Percent of Taxable Wages | 6.0% |
| Maximum Taxable Earnings | $7,000 |
| Health Savings Accounts | Federal |
| Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2016) | $1,000 |
| Family Contribution Limit (Employee / Employer) (Unchanged from 2016) | $6,750 |
| Self-Only Contribution Limit (Employee / Employer) (Increased from $3,350 in 2016) | $3,400 |
| Supplemental Wage / Bonus Rates | Federal |
| Pay over $1 Million (Unchanged from 2016) | 39.6% |
| Flat rate withholding method (Unchanged from 2016) | 25% |
Minnesota State Resources
Need a Tax Form?
You can download some of the most common tax related forms here.