Minnesota self-employment tax 2026
With $68,000 of self-employment profit in Minnesota, a single filer owes about $9,608 in self-employment tax for 2026 and should set aside about $4,164 each quarter.
Self-employment tax · 2026
Quarterly payments $9,608for the year
15.3% on 92.35% of your profit
Where your $68,000 of profit goes
You keep$51,34575.5%
Social Security$7,78711.5%
Medicare$1,8212.7%
Federal income tax$4,2736.3%
Minnesota income tax$2,7744.1%
Income tax
$7,047
Total tax
$16,655
Each quarter
$4,164
Quarterly estimated payments for 2026
Apr 15, 2026Covers Jan 1 to Mar 31
$4,164Jun 15, 2026Covers Apr 1 to May 31
$4,164Sep 15, 2026Covers Jun 1 to Aug 31
$4,164Jan 15, 2027Covers Sep 1 to Dec 31
$4,164Equal amounts to set aside, not a bill.
Self-employment tax in Minnesota
- Self-employment tax
- 15.3%
- Wage base
- $184,500
- Extra Medicare
- 0.9%
- Owed from
- $400
- Business income deduction
- 20%
- Minnesota income tax
- 5.35% to 9.85%
How we work it out
- 1Net earningsYour profit times 92.35%.
- 2Social Security12.4% on net earnings up to $184,500, less W-2 wages.
- 3Medicare2.9% on all net earnings, plus 0.9% over $200,000.
- 4Income taxAfter half your self-employment tax and the 20% business income deduction.
- 5Quarterly estimateSelf-employment tax plus income tax on the profit, split in four.
Self-employment tax questions
How much self-employment tax do I owe on $68,000 of profit?
About $9,608 for 2026, made of $7,787 for Social Security and $1,821 for Medicare. Half of it, $4,804, comes off your income before income tax.
What is the self-employment tax rate for 2026?
15.3% on 92.35% of your net profit: 12.4% for Social Security on up to $184,500 and 2.9% for Medicare on all of it. Above $200,000 for single filers, another 0.9% Medicare applies.
When are 2026 estimated tax payments due?
Apr 15, 2026, Jun 15, 2026, Sep 15, 2026, and Jan 15, 2027. Each payment covers the months before it.
I also have a W-2 job. Does that change my self-employment tax?
Yes. Social Security stops at $184,500 of combined earnings, and your job's wages count first. Add your W-2 wages in the calculator to see the difference.
Does Minnesota tax self-employment income?
Yes. Minnesota taxes your profit as income at 5.35% to 9.85%.
Sources
- IRS Revenue Procedure 2025-32: 2026 brackets and standard deduction
- Social Security Administration: 2026 contribution and benefit base
- IRS Notice 2025-67: 2026 retirement plan limits
- Minnesota Department of Revenue
- Minnesota DOR press release, 2026 income tax brackets, standard deduction and dependent exemption (Dec. 16, 2025)
- Minnesota DOR, inflation-adjusted amounts for tax year 2026
- Minnesota Paid Leave, premium rate and contributions (0.88%, employee up to 0.44%, OASDI wage limit)
- Minn. Stat. 290.0123, subd. 5 (standard deduction limitation: 3%, then 10%, at most 80%)
- Tax Foundation, State Individual Income Tax Rates and Brackets, 2026
- Tax Foundation, State and Local Sales Tax Rates, Midyear 2026 (state rate)
Nearby states
All statesKnow your real profit before each due date
BooksGPT keeps your books current, so your profit this year is one question away.
Get started