Wednesday, April 12, 2006

Tax Freedom Day® will fall on April 26 in 2006, according to the Tax Foundation’s annual calculation using the latest government data on income and taxes. The report compares the number of days Americans work to pay taxes to the number of days they work to support themselves. Because of the rising tax payments that accompany economic growth, this year’s Tax Freedom Day is three days later than it was in 2005 and 10 days later than it was in 2004.

Tax Freedom Day® comes as late as May 12 and as early as April 11, depending on the state:

State Tax Freedom Day 1. Connecticut May 12 2. New York May 9 3. New Jersey May 6 4. Washington May 4 5. Minnesota May 3 6. Massachusetts May 2 7. Maine May 1 8. Rhode island May 1 9. California April 30 10. Illinois April 30 U.S. Average April 26 42. Idaho April 16 43. Montana April 16 44. South Dakota April 16 45. New Mexico April 15 46. Tennessee April 14 47. Oklahoma April 14 48. Mississippi April 13 49. Alaska April 12 50. Alabama April 11

For criticism of the Tax Foundation's methodology, see here and here. For the Tax Foundation's defense, see here.

https://taxprof.typepad.com/taxprof_blog/2006/04/tax_freedom_day.html