Relatively high taxes on income and estates make Minnesota the fifth-costliest state in which to be rich, according to a new ranking.
CNBC reports on the listing by personal-finance technology firm SmartAsset, which combined factors such as income, property and estate taxes and computed them for people earning $465,626 — the threshold for the top 1 percent earners nationally. (Home values are assumed to be $2.3 million in value and total estate worth was set at $15 million.)
