Tuesday, April 7, 2015

Tax Freedom Day!

Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. Tax Freedom Day takes all federal, state, and local taxes and divides them by the nation’s income. In 2015, Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and local taxes, for a total tax bill of $4.85 trillion, or 31 percent of national income. This year, Tax Freedom Day falls on April 24, or 114 days into the year.

So, when is Florida's Tax Freedom Day.  In 2015, it is April 20th, and ranked at #13.

OK, who is 1st and 2nd, and who is 49th and 50th?

1st is Louisiana followed by Mississippi in 2nd place, with Tax Freedom Days of April 2nd and April 4th respectively.  New Jersey and Connecticut are ranked 49th and 50th with each having a Tax Freedom Day of May 13th.

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