In the U.S., Tax Freedom is Hard to Find

In the U.S., April 15 is Tax Day, a normally-dreaded day that each American has to file their taxes, using increasingly difficult tax forms and processes.

Tax Freedom Day, according to The Tax Foundation, is the day in which Americans have to work in order to earn enough money to pay their tax bill (on average).

But which state in the U.S. gets the honor of holding the record for “Most Days Worked Til Tax Freedom”?

That would be the lovely nutmeg state of Connecticut, according to The Tax Foundation.

In Connecticut, residents must work until May 13 this year in order to earn enough money to pay their total tax bill, which is a full week longer than any other state in the U.S.,

National Tax Freedom Day this year is on April 18, meaning that on average, the country as a whole will have earned enough money to pay its total tax bill…a full 25 days before residents in the state of Connecticut.

Here’s how The Tax Foundation explains things, from their web site:

In 2013, Americans will pay $2.76 trillion in federal taxes and $1.45 trillion in state taxes, for a total tax bill of $4.22 trillion, or 29.4 percent of income. April 18 is 29.4 percent, or 108 days, into the year.

In Connecticut, May 13 comes 35.4% into the year, which is roughly the percentage of income each worker in the Nutmeg State will have to send off for taxes this year.

Who has the earliest Tax Freedom Day in the nation? That would be Louisiana and Mississippi, where residents need to work through March 29 to pay their total bill. That’s 45 days before we gain our Freedom here in Connecticut.