You may have already sent off your 2014 paperwork to the IRS, enclosed a check or requested a refund, and crossed taxes off your to-do list for the year. But you’re not done yet.
You’ll still have to work until April 24 to earn enough money, on average, to pay what you owe Uncle Sam this year. That’s another day longer than last year, according to the Tax Foundation, a tax-policy research group that calculates what it calls “Tax Freedom Day” annually.
This year, the group estimates that Americans will pay $4.8 trillion on federal, state and local taxes—or about 31 percent of the nation’s income. Taxpayers will spend more on taxes this year than on food, clothing and housing combined, it says.
But individual tax burdens can vary widely, depending on how much you make and where you live.
Some taxpayers will work well into the summer before they’ve made enough to pay their taxes. Others, including those who qualify for an earned income tax credit, likely celebrated Tax Freedom Day before the groundhog saw his shadow.
Your personal Tax Freedom Day also depends heavily on the state where you reside. In Louisiana, Tax Freedom Day comes early on average—April 2—while taxpayers in Connecticut and New Jersey will have to keep working until May 13, on average, to have earned enough to pay their 2015 tax bill.
Residents of Connecticut pay the highest federal, state and local taxes in the country—some $7,150 on average per person in 2013, according to the latest data from the Tax Foundation. (That’s likely because the state also had the highest per-capita income at $60,658.)
Your tax burden also comes in many different forms, depending on your state’s tax structure. In Oregon, for example, nearly 40 percent of the state revenues come from individual income taxes. Six states (Alaska, Nevada, South Dakota, Texas, Washington and Wyoming) collect no income tax. But those states lean more heavily than others on sales and property taxes to pay government expenses. At the federal level, individual income taxes make up the largest share—nearly $1.4 trillion—of Uncle Sam’s revenues. Social Security and corporate taxes are the next biggest categories. Here’s a closer look at where you federal tax dollars go.