Report: CT Dead-Last in the Nation in “Tax Freedom”March 26, 2018
The nonpartisan Tax Foundation's latest report on tax burdens in the 50 states has more and more bad news for Connecticut taxpayers.
The nonpartisan Tax Foundation released its latest iteration of its “Tax Freedom” study last week, and it’s full of bad news that Connecticut taxpayers may already know.
Among the nuggets of bad news about Connecticut’s tax burden:
- The state has the last “Tax Freedom Day” in the nation – defined by the Tax Foundation as “how long into the year Americans work before they have earned enough money to pay all federal, state, and local taxes for the year.” The average U.S. Tax Freedom Day is April 23, Connecticut’s is May 21.
- Connecticut’s state-local “tax burden as a [percentage] of state income,” 12.6 percent, is the second-highest in the nation.
- Connecticut’s state business tax climate index is #44 in the nation.
Gov. Dan Malloy (D-Conn.) has appeared to abandon any tax relief efforts in his final year in office. Instead, he’s proposing real tax increases, effective tax increases in the form of tolls, and focusing on what he calls “fairness.”
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