As of 2020 we are now Minnesota residents. How do I figure my estimated taxes for Minnesota? Our pension fund does not withhold for Minnesota.

[BillM223 · Accepted solution]

Unfortunately, the state of Minnesota does not offer an estimated tax calculator like the IRS does for the federal return.

So you will need to create a dummy return in which you enter all your data for 2020 (yes, you will be using 2019 tax software, but it will be "close enough for government work").

This should give you an approximate number for your assessed taxes. Divide this number by 4 and pay quarterly. Note that the Minnesota quarterly due date are slightly different from the federal quarterly due dates. Please see this Minnesota state webpage for more information.

NOTE, if you use the same Online account as you did for your already filed 2019 tax return, you will overlay your 2019 information - don't do that. Make a new Online account.

If you are using the CD/download software, you can create as many tax returns as you would like.