Happy Tax Freedom Day, Iowa!
On April 9, Iowa residents will have earned enough money to pay their total tax bill for the year 2013. That’s the 99th day of the year.
The Tax Foundation says Iowa’s top individual income tax rate is fourth-highest in the U.S. at 8.98%. The state collected $903 in income tax per person in 2010, the 20th highest rate in the nation. Iowans pay 6% in state sales tax; and they pay $3,660 per capita in state and local taxes.
The April 9th date is the 17th earliest Tax Freedom Day in the country.
Illinois Tax Freedom Day is the 5th latest in the country, happening on the 115th day of the year on April 25, 2013. Illinoisans pay a 5% flat individual income tax rate. Income tax collections per person were 18th lowest in the country at $664 in 2010.
Illinois has the 11th highest tax burden in the country. Illinois taxpayers pay $4,512 per capita in state and local taxes.
Louisiana and Mississippi have the earliest Tax Freedom Day this year – March 29. Connecticut has the latest Tax Freedom Day this year – May 13.
The national Tax Freedom Day for 2013 is April 18. That’s five days later than the 2012 Tax Freedom Day.