Tax Freedom Day – the date on which Americans will have worked long enough to have earned enough money to pay this year’s tax obligations at the federal, state and local levels – will fall on Sunday, April 12 for residents of Colorado. The date for all Americans will be Monday, April 13.
Colorado’s date is nine days earlier than in 2008. There is an earlier overall date for the nation for two reasons: (1) the recession has reduced tax collections even faster than it has reduced income, and (2) the stimulus package includes large temporary tax cuts for 2009 and 2010. Nevertheless, Americans will pay more in taxes than they will spend on food, clothing and housing combined.
