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.
As of 2023 the population of Todd County, MN is 25,353. The population is expected to shrink to 25,236 by 2028 - a growth rate of -0.09%.
The median age of Todd County, MN residents is 44.
The diversity index of Todd County, MN is 35.3, meaning that there is a 35% chance that any two people selected out of 100 residents will be of different race or ethnicity from one another.
The average household income in Todd County, MN is $80,161 and projected to be $89,990 in 2028. Per capita income is $31,489, projected to be $35,451 in 2028. 1.38% of households – 351 – have an income of $200,000 or higher.
There are 12,858 housing units in Todd County, MN; 8,361 are owner-occupied, 1,592 are rented, and 2,905 are vacant. The average home value is $235,115, with 839 homes built in 2010 or later, and 2,801 built in 1939 or earlier.
There are 863 businesses in Todd County, MN, employing 7,393 workers and pulling from a labor force of 10,846 age 16 and above. 4,856 workers commute into Todd County, MN from outside the county or state. Key industries for the area include:
5,912 residents both live and work in/around Todd County, MN. The average travel time is 24.4 minutes. 11.13% people have a commute of less than 5 minutes while 5.46% commute 90 minutes or more each way. Of commuters, 8,213 drive alone, 1,004 carpool, and 51 take public transportation. 574 use other modes of transport such as motorcycle, bicycle, walking, etc. 1,004 residents work from home.
7,266 members of the workforce hold a high school diploma or GED. 2,500 have associates degrees, 2,095 have bachelor’s degrees, and 746 hold a graduate or professional degree.
Minnesota has two important taxes that apply to business entities:
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
To find the latest information on available sites and buildings in this county please visit the Minnesota Prospector website»
