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Minnesota ranks 5th worst in new economic outlook analysis



Minnesota finished 46th in a study by the American Legislative Exchange Council (ALEC) that examined the 50 states’ economic outlooks based on 15 policy measures.

The economic outlook ranking for Minnesota examined such variables as top marginal personal income tax rate (9.85 percent) and top marginal corporate income tax rate (9.8 percent). Other measures examined include property and sales tax burdens, existence of estate or inheritance taxes, debt service as a percentage of tax revenue and the number of public employees per 10,000 people.

The study titled “Rich States, Poor States” also ranked states based on their economic performances from 2009 to 2019. In that assessment, Minnesota ranked 18th.

The state’s cumulative gross domestic product from 2009 to 2019, its overall loss of population to other states between 2009 and 2019 and nonagricultural job growth from 2009 to 2019 determined how it fared in the economic performance ranking.

State Rankings on Economic Outlook and Performance

State 2021 Economic Performance Ranking 2021 Economic Outlook Ranking Top Marginal Personal Income Tax Rate Top Marginal Corporate Tax Rate
Utah 4 1 4.95% 4.95%
Florida 5 2 0% 4.5%
Oklahoma 22 3 5% 6%
Wyoming 44 4 0% 0%
North Carolina 14 5 5.25% 2.5%
Indiana 21 6 5.25% 5.25%
Nevada 11 7 0% 0.65%
North Dakota 12 8 2.9% 4.31%
Texas 1 9 0% 2.66%
South Dakota 17 10 0% 0%
Idaho 8 11 6.93% 6.93%
Tennessee 13 12 0% 6.5%
Arizona 7 13 8% 4.9%
Georgia 10 14 5.75% 6.39%
Wisconsin 34 15 7.65% 7.9%
Michigan 30 16 6.65% 8%
Virginia 31 17 5.75% 7.64%
Alaska 48 18 0% 9.4%
New Hampshire 25 19 0% 7.7%
Colorado 2 20 4.55% 4.55%
Missouri 41 21 6.4% 4.58%
Louisiana 49 22 3.78% 6.32%
Arkansas 26 23 5.9% 6.2%
South Carolina 6 24 7% 5%
Alabama 28 25 4.15% 6.05%
Kansas 39 26 5.7% 7%
Mississippi 47 27 5% 5%
Ohio 32 28 7.3% 3.69%
Kentucky 29 29 7.2% 7.2%
Massachusetts 19 30 5% 8%
Delaware 20 31 7.85% 11.77%
West Virginia 45 32 6.5% 6.5%
Iowa 33 33 5.37% 9.68%
Montana 15 34 6.9% 6.75%
Nebraska 24 35 6.84% 7.81%
Pennsylvania 40 36 6.94% 16.84%
Washington 3 37 0% 6.85%
New Mexico 43 38 5.9% 5.9%
Connecticut 50 39 6.99% 7.5%
Maryland 35 40 8.95% 8.25%
Rhode Island 37 41 5.99% 7%
Hawaii 27 42 11% 6.4%
Maine 36 43 7.15% 8.93%
Oregon 9 44 14.68% 15.8%
California 16 45 13.3% 8.84%
Minnesota 18 46 9.85% 9.8%
Illinois 42 47 4.95% 9.5%
New Jersey 46 48 11.75% 11.5%
Vermont 38 49 8.75% 8.5%
New York 23 50 12.7% 17.3%

Source: American Legislative Exchange Council



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