Next week Arizonans will have made enough money to pay their taxes for the year.
Just their taxes.
Arizona's 2016 Tax Freedom Day is April 15. It's when taxpayers in the state have collectively earned enough money to pay their federal, state, and local tax bill for the year according to the tax research group Tax Foundation.
In other words, every cent you make from here on out is what you're bringing home.
The organization figures the tax freedom day for each state.
The top three to reach their tax freedom day first:
- Mississippi (April 5)
- Tennessee (April 6)
- Louisiana (April 7).
The bottom three that reach their tax freedom day last:
- Connecticut (May 21)
- New Jersey (May 12)
- New York (May 11)
Arizona's average is slightly better than the average across the country. The national tax freedom day falls on April 24, which is 114 days into the year.
Coincidentally, Arizona's tax freedom day is the same day as the regular tax return filing deadline. However, because the Washington D.C. Emancipation Day holiday is being observed on April 15 instead of April 16, 2016, the tax return filing deadline is on Monday, April 18 this year.