In their latest filings, the largest companies in Minnesota paid lower effective tax rates than they did five years ago and most paid less than the 21% reduced rate set in late 2017 by former President Trump. That 21% rate represented a steep reduction from the 35% rate that existed before the 2017 overhaul.
| Company | Tax years 1 through 5* |
|---|---|
| Medtronic PLC | |
| Xcel Energy Inc. | |
| Polaris Inc. | |
| Ecolab Inc. | |
| Ameriprise Financial Inc. | |
| Pentair PLC | |
| U.S. Bancorp | |
| General Mills Inc. | |
| Hormel Foods Corp. | |
| CH Robinson Worldwide Inc. | |
| 3M Co. | |
| Winnebago Industries Inc. | |
| Toro Co. | |
| Target Corp. | |
| Donaldson Company Inc. | |
| UnitedHealth Group Inc. | |
| Fastenal Co. | |
| Best Buy Co. Inc. | |
| Patterson Companies Inc. | |
| HB Fuller Co. |
