Taxes

• Commercial/Industrial Real Estate Taxes:
  2.3% of estimated market value (through special Disparity Reduction Credit).
  
  
• No Personal Property Tax
  
  
• Corporate Income Tax:
  9.8%. Companies doing business both inside and outside Minnesota apportion their income with a weighted-formula. Property and payroll are each 12.5% and sales is at 7.5%.
  
  
• Workers Compensation:
  Private insurers offer coverage, with an Assigned Risk Pool available for new businesses and those with high-risk classifications. Premium costs range from 33 cents per $100 of payroll for office workers to $5.43 for light manufacturing and machine operators.
  
  
• Sales & Use Tax:
  6.5%. Clothing, shoes, prescriptions and most food items are exempt.
  
  
• Unemployment Compensation:
  Ranges from 1-5.4% based on experience