Contributed by Sheila O’Connor, AAF Omaha Board Member & Legislative Issues Chair
Tax Freedom Day Is April 17 In Nebraska
According to the Tax Foundation, “Tax Freedom Day” is when Americans have finally earned enough money to pay their total tax bill for the year — including taxes owed to federal and state governments, as well as local entities. Last year, the nation’s Tax Freedom Day fell on April 24, or 114 days into the year. Americans paid $3.3 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total bill of more than $4.8 trillion, or 31% of the nation’s income. Nebraska’s Tax Freedom Day came earlier than the U.S. average, as taxpayers in the Cornhusker State worked from Jan. 1 until April 17 (21st earliest nationally) to pay their total tax bill. Tax Freedom Day for neighboring states arrived on the following dates: South Dakota, April 8 (3rd earliest); Missouri, April 14 (10th earliest); Iowa, April 16 (18th earliest); Kansas, April 21 (20th latest); Wyoming, April 22 (19th latest); and Colorado, April 25 (13th latest).