Minnesota (MN) – 2022


Minimum Wage – If annual gross volume of sales are $500,000 or more:MinnesotaFederal
Minimum Wage$10.33
Minimum Cash Wage (Tipped Employee)$10.33
Maximum Tip CreditNone
Youth Minimum Wage$8.42
State Income TaxMinnesotaFederal
Wage WithholdingTables
Supplemental Wage / Bonus Rate6.25%
Unemployment InsuranceMinnesotaFederal
Maximum 2022 Taxable Earnings (Increased from $35,000 in 2021)$38,000
Employee 2022 DeductionNone
Employer 2022 Tax Rates (Includes 0.5% base rate)0.50 – 8.9%
Standard 2022 New Employer Rate(Plus 0.5% base rate)Industry Average
Voluntary Contribution PermittedYes

Federal (FED) – 2022

Minimum WageFederal
Minimum Wage$7.25
Medicare Rate1.45%
Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match)2.35%
Maximum Taxable EarningsNo Limit
Maximum Taxable Earnings (Increased from $142,800 in 2021)$147,000
Employee / Employer Tax Rate (Unchanged from 2019)6.20%
Health Savings AccountsFederal
Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2021)$1,000
Pension PlansFederal
Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Increase from 6,000 in 2019)$6,500
Contribution Limit – 401(k) & 403(b) plans (Increased from $19,500 in 2021)$20,500

Minnesota State Resources

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