What's New for Mineral Taxes
Minnesota Mining Tax Guide
The 2021 Minnesota Mining Tax Guide is now available!
For current mineral production and tax data, see our Mining Statistics page.
2021 Production Tax Rate
The 2021 Production Tax base rate is $2.892 per taxable ton. Additional tax of 3 cents per ton applies for every 1% the product’s iron content exceeds 72%, 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 (GDPIPD). To calculate the rate, we multiply the previous year’s rate by the percentage change in the 4th quarter GDPIPD, as shown below.
|2020 Rate||x||(2020 IPD/2019 IPD)||=||2021 Base Rate|
The GDPIPD is published each quarter by Bureau of Economic Analysis, part of the U.S. Department of Commerce. View the most recent GPDIPD data on the Bureau of Economic Development webpage.