Minnesota variant. This is a Minnesota-specific version of the Workers Comp Cost Estimator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Workers Comp Cost Estimator.
Workers' compensation premiums in Minnesota are priced per $100 of payroll, by job classification. On a $84,313 salary at an illustrative $1.00 rate, the annual premium is about $843.
How Minnesota workers' comp is priced
Premium = (payroll ÷ 100) × class rate × experience modifier. Clerical roles carry low rates; construction and trucking carry much higher ones.
Minnesota sets its own rules and rates. The calculator above lets you enter your real payroll, class rate, and mod factor for an accurate Minnesota estimate.
About taxes and housing in Minnesota
Minnesota has a graduated income tax with a high top rate approaching 10%.
Minnesota property taxes are near the national average and include a state-funded homestead credit refund for eligible owners.
Minnesota hosts an unusually large number of Fortune 500 headquarters and has a diverse economy spanning healthcare, retail, and agriculture.
Worked example: $84,313 payroll
($84,313 ÷ 100) × $1.00 = $843/year at a sample clerical rate. A construction class rate of $8.00 would make it $6,745.
Quick reference
- State income tax: 5.35-9.85% across 4 brackets
- State sales tax: 6.875% (plus 1.17% avg local)
- Median home value: $340,000
- Median household income: $84,313
- Effective property tax rate: 1.05%
- Avg auto insurance: $1,500/yr
Frequently Asked Questions
How is workers' comp calculated in Minnesota?
By payroll ÷ 100 × class rate × experience modifier, using Minnesota's approved rates.
Is workers' comp required in Minnesota?
Most Minnesota employers must carry coverage once they have employees; rules vary by industry and headcount.