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Minnesota State Wire

Friday, November 22, 2024

Minnesota ranks 11th in the U.S. for the most corporations net income taxes paid in 2021

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In 2021, Minnesota collected $2.4 billion in corporations net income taxes, ranking it 11th in the United States, according to the U.S. Census Bureau's Annual Survey of State Government Tax Collections (STC).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

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

U.S. corporations net income taxes by State in 2021
RankStateAmount
1California$26,097,277,000
2New Jersey$5,959,760,000
3Illinois$5,729,501,000
4New York$4,954,149,000
5Pennsylvania$4,045,313,000
6Massachusetts$3,672,995,000
7Florida$3,407,190,000
8Connecticut$2,607,064,000
9Tennessee$2,564,458,000
10Wisconsin$2,517,169,000
11Minnesota$2,423,383,000
12Maryland$1,840,705,000
13Georgia$1,750,735,000
14Virginia$1,579,303,000
15North Carolina$1,515,650,000
16Michigan$1,496,498,000
17Indiana$1,385,158,000
18Colorado$1,278,046,000
19Oregon$1,223,523,000
20Alabama$1,134,256,000
21New Hampshire$1,009,975,000
22Kentucky$926,075,000
23Arizona$905,953,000
24District of Columbia$863,057,000
25Iowa$793,641,000
26Utah$745,673,000
27South Carolina$740,197,000
28Kansas$727,435,000
29Missouri$686,857,000
30Arkansas$618,457,000
31Oklahoma$601,224,000
32Louisiana$587,747,000
33Nebraska$571,220,000
34Mississippi$550,199,000
35Idaho$351,479,000
36Delaware$334,805,000
37West Virginia$320,487,000
38Maine$284,317,000
39Montana$268,444,000
40Rhode Island$257,943,000
41Hawaii$191,426,000
42Vermont$166,841,000
43North Dakota$155,458,000
44New Mexico$152,728,000
45Alaska$124,987,000
46South Dakota$53,960,000
47Ohio$5,955,000
Source: U.S. Census Bureau

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