California residents who have filed their income tax returns by April 18 must wait a little longer to breathe a sigh of relief: even after mailing their tax forms, Californians still have 12 more days 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 when Americans have earned enough money to pay their annual tax obligations at the federal, state and local levels. California’s Tax Freedom Day lands on April 30 this year, six days after the national mark of April 24.
“California’s complicated and oppressive tax system continues to make life hard,” said Board of Equalization Member George Runner. “Californians will have to work 120 days to pay our tax bill this year and, unbelievably, some lawmakers want to make the number higher by raising taxes.”
According to the Tax Foundation, Americans’ total tax bill comes to nearly $5 trillion, or about 31 percent of their income. Collectively that amounts to taxpayers handing over more money to the government in 2016 than they spend on food, clothing and housing combined.
Compared to other states, California’s Tax Freedom Day is one of the latest in the nation. Only Connecticut, New Jersey, Massachusetts and New York have later dates.
Learn more about Tax Freedom Day.