Blog for John Sweeney - Elder, Wills, Estates, Trusts, Special Needs, Business, & Tax Lawyer in CT and NY

Tax Freedom Day in CT and NY

Posted by John Sweeney | May 01, 2014 | 0 Comments

The Tax Foundation publishes tax freedom day for every state.  You can read the report yourself here.

The calculation takes into account all federal and state taxes.  Unfortunately, the day is 3 days later than last year.

Tax Freedom day in New York is May 4 and in Connecticut it is May 9.  Basically, you work until then to pay your taxes.

Part of the reason taxes are so high is because of the high state tax burdens in the Northeast.  The other reason is that the income tax systems are progressive, so in our high income states we pay a higher percentage of our income in taxes.

If you include all the federal spending which has been funded by borrowing, tax freedom day would be 15 days later.

About the Author

John Sweeney

John is an experienced lawyer who helps you solve your problems. He practices Elder, Wills, Estates, Trusts, Special Needs, Business, & Tax Law in Fairfield County CT and Westchester County New York. He brings a wealth of experience in law, business, tax, insurance, and finance to arrive at practical solutions with compassion and care. Honest, direct and practical, he is focused on you and your problems. He also brings a wealth of personal experience from his own large family and aging parents.

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Elder, Wills, Estates, Trusts, Special Needs Tax & Business Law; Attorney John Sweeney

Sweeney Legal, LLC, provides legal, practical, and business counsel to Seniors, families, and businesses in the Fairfield, Connecticut area, including the communities of Bridgeport, Bethel, Brookfield, Danbury, Darien, Easton, Fairfield, New Canaan, Newtown, Norwalk, Redding, Ridgefield, Stamford, Weston, Westport and Wilton. John is also licensed in New York serving Westchester County including the towns of Bedford, Lewisboro, Mount Kisco, North Salem, Pound Ridge, and Somers.

Menu