2024: Minnesota reports $283.8 million in estate and gift taxes revenue

Tim Walz, Governor of Minnesota
Tim Walz, Governor of Minnesota
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Of the $35.7 billion in taxes collected by Minnesota in 2024, 0.8%, or $283.8 million, came from estate and gift taxes, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

The State Government Tax Collections (STC) survey tracks five major tax categories and up to 25 subcategories, gathering data from all 50 state governments and their dependent agencies.

The Census Bureau notes that it defines tax classifications consistently across states, which may differ from how individual states categorize them.

According to the U.S. Census Bureau, state and local governments collect a wide range of taxes to fund public programs and services. These revenues are typically allocated to areas such as transportation, education, and public safety. In 2024, state tax collections alone amounted to nearly $1.5 trillion nationwide, representing a significant part of overall government operations.

The amount each state collects depends on its tax rates, bases, and policy priorities. In 2023, North Dakota topped the list with the largest state tax collection per capita at $7,715.71, followed by Hawaii ($7,098.72) and Vermont ($6,948.15), according to the U.S. Census Bureau.

Below is a breakdown of how taxes were classified by subcategory and how much was collected.

2024 Minnesota Tax Collections
Type of TaxAmount
Individual income taxes$13,274,070,000
General sales and gross receipts taxes$8,493,198,000
Corporation net income taxes$5,875,471,000
Selective sales and gross receipts taxes$5,082,728,000
Other selective sales and gross receipts taxes$2,386,462,000
Motor vehicle license taxes$1,018,705,000
Motor fuels sales taxes$888,215,000
Insurance premiums sales taxes$845,671,000
Tobacco products sales taxes$548,206,000
Occupation and businesses license taxes$288,594,000
Estate and gift taxes$283,832,000
Documentary and stock transfer taxes$226,949,000
Amusements sales taxes$215,477,000
Hunting and fishing license taxes$114,177,000
Alcoholic beverages sales taxes$111,311,000
Other license taxes$95,239,000
Public utilities sales taxes$86,005,000
Severance taxes$76,558,000
Motor vehicle operators license taxes$66,362,000
Corporations in general license taxes$17,464,000
Amusements license taxes$9,146,000
Public utilities license taxes$9,136,000
Alcoholic beverages license taxes$3,485,000
Information in this story was obtained from the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC). The source data can be found here.



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