Report says Wisconsinites have to work longer to pay off taxes
Although Wisconsin taxpayers will need to have their taxes filed by April 17, they won't be done paying for those taxes until May 2.
According to the Tax Foundation, Wisconsin taxpayers will have to work until that day in order to pay their share of state and local taxes, which includes property taxes.
They call the day "tax freedom day."
According to the group's recently released annual report, Wisconsin ranks 7th in the nation in its tax burden. Meanwhile Minnesota ranks 11th, while Iowa ranks 18th and Illinois ranks 22.
The report shows that Wisconsinites pay a total of 12.3 percent of their annual income in state and local taxes. Wisconsin's tax burden has been growing since 2003 when it was 11.7 percent.
In Minnesota that percentage drops to 11.5 percent.
Alaska enjoys the lowest tax burden in the nation while Vermont taxpayers carry the heaviest tax burden.
This year's tax freedom day in Wisconsin is one of the latest on record according to the group. In 2006, May 1 was Tax Freedom Day and in 2005 it was April 27. In 2003, the day was April 20.
The latest dates on record were in 1996 and 1997 when May 4 was tax freedom day.
The report also shows that the state's per capita income is $38,369 and the per capita tax burden is $4,736.
Figures from the non-partisan Wisconsin Taxpayers Alliance show that in 2005 the average Wisconsin adjusted gross income was $43,972.
The U.S. Office of Economic Indicators reported in March that Wisconsin was behind the rest of the nation in per capita personal income growth with a growth rate of just 4.2 percent in 2006. The national average was 5.2 percent.
According to WisTax, those earning more than $100,000 in the state pay the most taxes. The group says that 7.6 percent of Wisconsin taxpayers are in that income group and they pay 44.3 percent of the state's income taxes.
In 1999, just 4.8 percent of the taxpayers in the state were in the over $100,000 income bracket and paid just 31.2 percent of the state's income taxes.
For information on the Tax Foundation report visit their Web site at www.taxfoundation.org
For more information on the Wisconsin Taxpayers Alliance report visit their Web site at www.wistax.org