O’Dea: Connecticut’s Tax Freedom Day is Latest Out of All States

HARTFORD- With the April 15th income tax deadline almost here, Rep. Tom O’Dea (R-125) wanted to remind New Canaan and Wilton taxpayers that Connecticut’s Tax Freedom Day – the day on which the state’s citizens stop working for the government and start working for themselves – comes on May 13, 2013, the latest in the nation according to the Tax Foundation.
Tax Freedom Day is the day out of each year when Americans will finally have enough money to pay off their tax bills, but Connecticut families have the unfortunate distinction of needing a longer time to pay their taxes than families in all other states.
Rep. O’Dea said. “It takes us longer than any other state to pay our taxes. Last year, CT Tax Freedom day was May 5th; we lost 8 more days of freedom in one year. Our state needs to do better. We have a taxing and spending problem in Hartford.”
Here are some of Connecticut’s taxes at a glance as reported by the Tax Foundation:
- Connecticut’s personal income tax system consists of six brackets and a top rate of 6.7%. That rate ranks 18th highest among states levying an individual income tax. Connecticut’s income tax collections per person were $1617 in 2010 which ranked 4th highest nationally.
- Connecticut’s corporate income tax system consists of a flat rate of 9%. That rate ranks 6th highest among states levying a corporate income tax. Connecticut’s corporate tax collections per person were $142 in 2010 which ranked 12th highest nationally.
- Connecticut levies a 6.35% general sales or use tax on consumers, which is above the national median of 6%. Connecticut’s state and local governments collect $881 per person in general sales taxes and $623 per person in excise taxes, for a combined figure of $1505, which ranks 15th highest nationally. Connecticut’s gasoline tax stands at 45¢ (4th highest nationally), while its cigarette tax stands at $3.4 (3rd highest nationally.)
- Connecticut’s state and local governments collected approximately $2522 per person in property taxes, which ranks 3rd highest nationally.
