Real Estate Taxes:
2.3% of estimated market value (through special Disparity Reduction
Personal Property 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%.
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.
& Use Tax:
6.875%. Clothing, shoes, prescriptions and most food items are exempt.
Ranges from 1-5.4% based on experience