(SACRAMENTO) – Californians who filed tax returns this week must unfortunately wait nearly a week longer until they’ve collectively earned enough money to pay off their total tax bill for the year.
Calculated annually by the Tax Foundation, Tax Freedom Day is the day when Americans have earned enough money to pay their taxes at the federal, state, and local levels.
This year, Tax Freedom Day lands on April 19 at the national level, but for California it lands on April 23.
“The good news is, thanks to the Trump tax cuts, the tax burden for most Californians went down,” said Board of Equalization Chairman and George Runner.
“However, even with the federal tax cuts, Tax Freedom Day comes late again to California,” added Runner. “I urge the Legislature to make the necessary reforms to simplify California’s tax laws to help everyday Californians. Californians aren’t getting a lot of value for the money they send to government.”
According to the Tax Foundation, in 2018, Americans will pay $3.39 trillion in federal taxes and $1.80 trillion in state and local taxes, for a total tax bill of $5.19 trillion, or 30 percent of national income. That’s more than Americans will collectively spend on food, clothing and housing combined.
California celebrates Tax Freedom Day later than most states, ranking 41 out 50 of states with the earliest Tax Freedom Day.
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