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Saturday, March 31, 2007

Minnesota Senate Votes for Country's Highest Income Tax Rate -- 9.7%

The Minnesota Senate today voted to raise the state's top tax bracket to 9.7% (from the current 7.85%) on incomes in excess of $250,000 ($141,250 for single taxpayers), which would be the highest income rate in the country (topping Vermont's 9.5% and California's 9.3% (which has also has a 1% surtax on incomes over $1 million),

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Congratulations to Minnesota! No, they're not in basketball's Final Four. Rather, Minnesota's State Senate passed a bill on Saturday to increase the top tax bracket in the state to 9.7%, the highest regular tax bracket in the country. You would nee... [Read More]

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