Most & Least Taxing States 2012

By Bloomberg BNA - 2012-04-13T16:45:59Z

Photograph by Jens Lucking/Cultura/Getty Images

Company Symbol % Change
24 of 53

Minnesota

Income tax: 7.85%
State sales tax: 6.875%
Property tax per capita: $1,273
Inheritance tax: None
Estate tax: 0.8% to 16% with a $1 million exemption

Minnesota's state and local government workers hope 2012 will be a better year. An impasse over budget negotiations in 2011 triggered a government shutdown for 20 days, leading to the temporary layoff of nearly 60 percent of the state's workforce. Minnesota has the seventh-highest overall tax burden, according to the Tax Foundation. A proposed additional top bracket to the income tax in 2011 was not enacted. To help balance budgets in 2010 and 2011, Minnesota delayed payments to the state's school system, so future surpluses will go to education.

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