On April 30 Californians can finally celebrate Tax Freedom Day, a full six days later than last year.
Tax Freedom Day, calculated annually by the Tax Foundation, is the day Americans have earned enough money to pay their annual tax obligations at the federal, state and local levels. This year’s national Tax Freedom Day arrived on April 21. According to the Tax Foundation, Americans total tax bill comes to $4.5 trillion in 2014.
Compared to other states, California’s Tax Freedom Day is the fourth latest in the nation. Only Connecticut, New Jersey and New York have later dates.
Unfortunately, Californians must work 120 days this year to pay their full tax bill. California’s burdensome tax climate continues to stifle its citizens, creating a difficult economic environment in which to live and work.