Small Business Owner salary in US Midwest Region

Average salary
$30,000/yr
Based on 374 income tax records
$16,500
$108,000
DATA PROVIDED BY turbotax icon

Based on income reported to the IRS in box 1 of W-2.

From consenting TurboTax customers

$16,500
$108,000
DATA PROVIDED BY turbotax icon

Based on income reported to the IRS in box 1 of W-2.

From consenting TurboTax customers

How much do Small Business Owners make?
The average total salary for a Small Business Owner is $30,000 per year. This is based on data from 374 TurboTax users who reported their job as Small Business Owner and includes taxable wages, tips, bonuses, and more. Small Business Owner salary can vary between $16,500 to $108,000 depending on factors including education, skills, experience, employer & location. Read more
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Small Business Owner salary by location

Location
Average salary per year*
Salary range**
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Minneapolis Metro Area, MN
35 income tax records
$41,000/yr
$29K – $57K
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Kansas City Metro Area, MO
16 income tax records
$37,000/yr
$30K – $51K
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Grand Rapids Metro Area, MI
10 income tax records
$35,500/yr
$27K – $44K
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Indianapolis Metro Area, IN
17 income tax records
$34,000/yr
$24K – $38K
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Chicago Metro Area, IL
41 income tax records
$31,000/yr
$25K – $45K
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Columbus Metro Area, OH
18 income tax records
$31,000/yr
$24K – $53K
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St. Louis Metro Area, MO
11 income tax records
$26,000/yr
$23K – $37K
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Cincinnati Metro Area, OH
16 income tax records
$25,000/yr
$20K – $37K

Small Business Owner salary by company

Employer
Average salary per year*
Salary range**

Small Business Owner demographics in US Midwest Region

single icon
52% are single
married icon
48% are married
have kids icon
39% have kids
own a home icon
54% own a home

Small Business Owner salaries by age in US Midwest Region

$0
$9,000
$18,000
$27,000
$36,000
18-25
26-35
36-45
46-55
56+
Years of age

Effective Tax Rates for Small Business Owners in US Midwest Region

374 full-time salaries from 2019
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FAQS
The average salary for a small business owner in US Midwest Region is $30,000 per year. Small business owner salaries in US Midwest Region can vary between $16,500 to $108,000 and depend on various factors, including skills, experience, employer, bonuses, tips, and more.

This data is exclusive to Mint Salary and is based on 374 tax returns from TurboTax customers who reported their occupation as small business owner.

The following cities offer the highest salaries for small business owners in US Midwest Region: Minneapolis Metro Area, MN ($41,000 a year), Kansas City Metro Area, MO ($37,000 a year), and Grand Rapids Metro Area, MI ($35,500 a year).
*
Total salary amounts here include total taxable wages, tips, prizes and other compensation. Salaries here are not representative of the total population and may reflect different levels of experience or education. Learn more
**
Total salary ranges shown here exclude outliers.