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Todd County

We are Here to Help You Grow.

Known as the place “where the forests meet the prairie,” Todd County has a rich agricultural heritage and abundant recreational opportunities side by side. Small-town values and an easy pace of life characterize Todd County. Our agricultural and value-add industries serve as a strong backbone to a growing mix of other sectors. Learn more at www.co.todd.mn.us

Todd County, MN

Population

Total Population

25,199

Population
Growth Rate

0.15%

Median Age

43

Diversity Index

21.700

Housing & Income

Households

9,847

Total Housing Units

13,066


Owner Occupied

8,054

Renter Occupied

1,793

Vacant

3,219

Median Home Value

$157,939


Average Home Value

$191,985

Income
Growth Rate

Median
Household Income

0.11%


Per Capita Income

2.45%

Income Projection

Median Household

$49,383 $53,101


Average Household

$65,903 $74,501


Per Capita

$25,903 $29,232

Workforce

Total Businesses

905

Total Employed

8,098

Workers 16+

11,276

AG/Forestry/Fish/Hunting

Businesses

46

Employed

120

Mining

Businesses

0

Employed

0

Utilities

Businesses

2

Employed

19

Construction

Businesses

68

Employed

175

Manufacturing

Businesses

37

Employed

1,082

Wholesale Trade

Businesses

21

Employed

163

Some
High School

960

Graduated
High School

5,717

Associates
Degree

2,589

Bachelor's
Degree

2,022

Graduate
Degree

780

Average Commute Time

24 min.



Resident Commuters

5,894

Non-Resident Commuters

5,225

Drive Alone

8,604

Carpooled

1,159

Public

51

Work At Home

856

Government and Taxation

MN Revenue website

Minnesota has two important taxes that apply to business entities:

  • a corporation income tax, called the “corporation franchise tax,” that applies to traditional (C-type) corporations; and
  • a tax called simply the “minimum fee” that applies to traditional corporations, S corporations, LLCs, and partnerships.

In addition to the latter taxes, if income from your business passes through to you personally, that income will be subject to taxation on your personal state tax return.

Minnesota’s corporation franchise tax, which is a tax on the income of traditional corporations, is comprised of a flat 9.8% tax plus an additional, alternative minimum tax (AMT). In general terms, the AMT is based largely on the federal AMT rules, and is a 5.8% tax on Minnesota alternative minimum taxable income in excess of $40,000.

Minnesota’s “minimum fee” tax applies to traditional corporations, S corporations, LLCs, and partnerships. The minimum fee is based on the combined value of a business’s property, payroll, and sales. If these three values together total at least $500,000, the business is required to pay the minimum fee. The exact amount of the minimum fee will vary depending on the total value of property, payroll, and sales, as follows:

total value less than $500,000 = $0 minimum fee
total value $500,000 to $999,999 = $100 minimum fee
total value $1,000,000 to $4,999,999 = $300 minimum fee
total value $5,000,000 to $9,999,999 = $1,000 minimum fee
total value $10,000,000 to $19,999,999 = $2,000 minimum fee
total value $20,000,000 or more = $5,000 minimum fee

For corporations, returns are due on the 15th day of the third month after the end of the tax year. For other forms of business, returns are due on the 15th day of the fourth month after the end of the tax year.

For purposes of comparison, note that Minnesota generally taxes personal income at rates ranging from of 5.35% to 7.85%.

Source: NOLO.com

Available Real Estate

To find the latest information on available sites and buildings in this county please visit the Minnesota Prospector website»

Transportation


Fast Fact Image

TCDC RLF funds provide additional access to capital for new and emerging small businesses where traditional sources of funding are unavailable or limited.  Strong consideration is given to value added agricultural manufacturing, technology, commercial/industrial and product manufacturing businesses that retain or create quality jobs.