Illinois taxpayers worked 115 days into 2013 to pay for taxes

April 25 marks Illinois’ Tax Freedom Day. This day commemorates the point in 2013 when Illinoisans have worked enough to cover the rising cost of federal, state and local government.

Ben VanMetre
Senior Budget and Tax Policy Analyst

April 25 marks Illinois? Tax Freedom Day. This day commemorates the point in 2013 when Illinoisans have worked enough to cover the rising cost of federal, state and local government. From now through the rest of 2013, Illinoisans finally will be able to keep the money they earn.

Just for state and local taxes, Illinoisans had to work:

?    32 days to pay property, sales and excise taxes
?    12 days to pay personal income taxes
?    3 days to pay corporate taxes
?    2 days to pay social insurance taxes
?    2 days to pay estate taxes

Illinois? high-tax environment pushed the state?s Tax Freedom Day far past its neighbors and the nation. Iowans have been working for themselves, not government, since April 9.

If Illinois mirrored the nation?s Tax Freedom Day, Illinoisans would have an additional week?s worth of income in their pockets.

Or better yet, if Illinois kept up with its neighbors, such as Missouri or Kentucky, Illinoisans would have nearly three weeks of extra income in their pockets.

More income going to the growing price tag of government means less money left in the family budget. With the nation?s second-highest unemployment rate, Illinoisans are already struggling to make rent and pay for groceries, let alone have enough leftover at the end of the month to put away for retirement or afford to save for college.

And for Illinois? businesses, more days spent working to pay taxes means fewer days spent working to make a profit ? which means less money to invest, compete and create the jobs that Illinois desperately needs. That creates incentives for both businesses and entrepreneurs to live and work in states where fewer working days are needed to cover taxes.