Did you know that the average Floridian must work 103 out of 365 days just to pay their taxes? April 14, is known as Florida Taxpayer Independence Day because it will be the first day of the year where your earnings will be yours, instead of going to pay your taxes. This is one day later than last year, but 17 days earlier than in 2006. Florida Taxpayer Independence Day this year comes just one day before national Tax Day on April 18, the deadline for Americans to file their federal income taxes.
“It took us one extra day for to reach Taxpayer Independence Day in Florida this year, but not because of tax rate increases,” said Dominic M. Calabro, President and CEO of Florida TaxWatch. “The tax burden began falling in 2007, when the recession caused tax collections to drop even faster than Floridians’ personal income. Now, the tax burden is beginning to rise again, as a slowly recovering economy begins to boost tax collections. Florida TaxWatch commends Governor Scott and legislative leaders for pursuing fiscal policies that will allow Florida’s economic recovery to continue. There has been a breakthrough in fiscal discipline in Florida that will benefit all taxpayers in the long run.”
Key findings from the Florida TaxWatch Taxpayer Independence Day report:
- Did you know that taxes are Florida workers’ largest single expense?
- Did you know that the average Floridian works 2 hours and 15 minutes of every eight-hour workday to pay their taxes?
- Did you know that the average Floridian works 1 hour and 31 minutes of every eight-hour workday just to pay their Federal taxes?
Read the full research report here.