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Newark, NJ
Informing and Connecting Engaged Citizens
New Jersey
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April 01, 2015
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New Jerseyans Will Work Until May 13 to Pay Off Taxes, Report Says
"Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. Tax Freedom Day takes all federal, state, and local taxes and divides them by the nation’s income. In 2015, Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and local taxes, for a total tax bill of $4.85 trillion, or 31 percent of national income. This year, Tax Freedom Day [for the country as a whole] falls on April 24, or 114 days into the year.
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