Last updated: 2025 BLS data · Page refreshed:
How much does a Brokerage Clerks actually take home in Minnesota?
Progressive (up to 9.8%) — 22.6% effective total tax rateData: BLS OEWS 2025 + IRS/State Tax Brackets 2024 • Updated 2026-05-19
Detailed line-by-line tax calculation for a Brokerage Clerks earning $62,110 in Minnesota (single filer, standard deduction).
| Tax Component | Annual Amount | Effective Rate |
|---|---|---|
| Gross Salary (Median) | $62,110 | — |
| Federal Income Tax | -$5,505 | 8.9% |
| Minnesota State Income Tax | -$3,787 | 6.1% |
| Social Security (OASDI) | -$3,850 | 6.2% |
| Medicare | -$900 | 1.5% |
| Total Taxes | -$14,044 | 22.6% |
| Take-Home Pay | $48,065 | 77.4% |
Take-home pay varies significantly across experience levels. Here is the after-tax breakdown for each salary percentile of Brokerage Clerks in Minnesota.
| Percentile | Gross Salary | Total Taxes | Take-Home Pay | Tax Rate |
|---|---|---|---|---|
| 10th Percentile (P10) | $50,560 | -$10,953 | $39,606 | 21.7% |
| 25th Percentile (P25) | $53,080 | -$11,619 | $41,460 | 21.9% |
| Median (P50) | $62,110 | -$14,044 | $48,065 | 22.6% |
| 75th Percentile (P75) | $64,300 | -$14,842 | $49,457 | 23.1% |
| 90th Percentile (P90) | $79,360 | -$20,331 | $59,028 | 25.6% |
After federal income tax ($5,505), state tax ($3,787), and FICA ($4,751), a Brokerage Clerks in Minnesota takes home $48,065 per year — or $4,005 per month. The effective tax rate of 22.6% is relatively low compared to the national range.
With an effective total rate of 22.6%, a Brokerage Clerks in Minnesota keeps $48,066 of $62,110 gross — roughly typical for U.S. middle-income earners once federal, FICA and state taxes are combined.
Minnesota uses a progressive state income tax, so brackets escalate as wages rise. For this Brokerage Clerks salary the state tax works out to $3,787 (6.1% effective) — on top of federal and FICA.
Federal tax on this Brokerage Clerks salary is $5,505 (39%), but combined state ($3,787, 27%) + FICA ($4,751, 34%) make up the other 61% of the bill.
Moving this same Brokerage Clerks salary to a zero-state-tax state would yield around $51,853 net — a gain of $3,787 (7.9%) per year versus Minnesota.
Minnesota ranks #30 of 40 states for Brokerage Clerks after-tax pay — lower half of the national distribution. Either gross wages trail the national median, state tax is elevated, or both.
Translated into paycheck cadences, $48,066 net/year works out to $4,005/month or $1,849/bi-weekly for this Brokerage Clerks in Minnesota — the numbers that actually hit a checking account after every deduction.
Where does a Brokerage Clerks keep the most of their paycheck? Top 10 states ranked by after-tax take-home pay.
Minnesota ranks #30 out of 40 states for Brokerage Clerks after-tax take-home pay.
A Brokerage Clerks in Minnesota earning a median salary of $62,110 will take home approximately $48,065 per year after federal income tax ($5,505), state income tax ($3,787), and FICA ($4,751). That is $4,005 per month or $1,848 per bi-weekly paycheck.
The effective total tax rate for a Brokerage Clerks in Minnesota is 22.6%, broken down as: federal income tax 8.9%, Minnesota state tax 6.1%, and FICA (Social Security + Medicare) 7.6%. This assumes a single filer with the standard deduction for 2024.
Minnesota has a progressive (up to 9.8%). On a Brokerage Clerks's median salary of $62,110, the state income tax amounts to $3,787 per year, which is an effective state rate of 6.1%.
After all taxes, a Brokerage Clerks in Minnesota takes home approximately $4,005 per month, or about $23.11 per hour (based on a standard 2,080-hour work year). These figures assume a single filer, standard deduction, and no additional pre-tax deductions.
We start with the 2025 BLS median salary of $62,110 for Brokerage Clerks in Minnesota, then subtract: federal income tax using 2024 IRS brackets ($14,600 standard deduction), Minnesota state income tax (progressive (up to 9.8%)), Social Security (6.2% up to $168,600), and Medicare (1.45%). The result — $48,065/yr — does not include local taxes, pre-tax deductions (401k, HSA), or tax credits.
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This estimate assumes a single filer using the 2024 standard deduction ($14,600), with W-2 employment income only. It does not account for: itemized deductions, tax credits (e.g. earned income credit, child tax credit), local/city taxes, pre-tax contributions (401k, HSA, FSA), self-employment tax, or additional income sources. Actual take-home pay may differ. Consult a tax professional for personalized advice.
Our Methodology · Data Sources · Salary: BLS OEWS · Tax: IRS + State DOR