![]() Head of Household standard deduction - $19,400įind more information on standard deductions, including standard deductions for those who are blind or are 65 and over, on the department’s website.Married Filing Separate standard deduction - $12,900. ![]() Married Filing Joint standard deduction - $25,800.Ģ022 Standard Deduction and Dependent Exemption Amountsįor those taking the standard deduction or the dependent exemption at the state level, Minnesota has calculated those amounts for 2022 as follows: You can view a full list of inflation-adjusted amounts for tax year 2022 on our website or by searching on our website using the keyword inflation adjustments. Taxpayers who make quarterly payments of estimated tax should use the following rate schedule to determine their payments, which are due starting in April 2022. The adjustment does not change the Minnesota tax rate that applies to each income bracket. The married separate brackets are half the married joint amount after adjusting for inflation. Chained Consumer Price Index for all urban consumers. The brackets are adjusted annually by an inflation factor, rounded to the nearest $10, based on the change in the U.S. Indexing for inflation of individual income tax brackets is required by law and first began in 1979. This annual adjustment will prevent taxpayers from paying taxes at a higher rate solely because of inflationary changes in their income. For tax year 2022, the state’s individual income tax brackets will change by 3.115 percent from tax year 2021. The Minnesota Department of Revenue announced the adjusted 2022 individual income tax brackets.
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