What's New for Mineral Taxes
Minnesota Mining Tax Guide
The 2019 Minnesota Mining Tax Guide is now available!
Did you know you can access the most up-to-date information right here! No need to wait a year for the Guide. See Mineral Taxes Mining Statistics where we update our data charts as information becomes available.
2019 Production Tax Rate
The 2019 Production Tax base rate is $2.811 per taxable ton. Additional tax of 3 cents per ton applies for every 1 percent the product’s iron content exceeds 72 percent, when dried at 212 degrees Fahrenheit.
The Production Tax rate is indexed each year, based on changes in the Gross Domestic Product Implicit Price Deflator (GDP IPD). To calculate the rate, we multiply the previous year’s rate by the percentage change in the 4th quarter GDP IPD, as shown below.
|2018 Rate||x||(2018 IPD/2017 IPD)||=||2019 Base Rate|
The GDP IPD is published each quarter by Bureau of Economic Analysis, part of the U.S. Department of Commerce. View the most recent GPD IPD data on the Bureau of Economic Development webpage.