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CFO Atwater Highlights Florida’s ‘Taxpayer Independence Day’

4/20/2015

Contact: Ashley Carr
(850) 413- 2842

TALLAHASSEE, Fla. – Today, April 20th, marks the celebration of Florida’s Taxpayer Independence Day. Taxpayer Independence Day is the day when taxpayers have collectively earned enough money to pay their total federal, state and local tax bill for the year. Due to a lower-than-average tax structure, Florida’s Taxpayer Independence Day falls four days earlier than the national day, which falls on April 24th this year.
 
“It should come as no surprise that residents are moving away from states with high tax burdens and coming to Florida,” said CFO Jeff Atwater. “In addition to the most beautiful beaches and weather in the nation, Florida boasts some of the lowest taxes around. With no estate, inheritance, or income taxes, it is clear that Florida is committed to operating as efficiently and responsibly as possible so that more of Floridians’ money can stay where it belongs—in the pockets of those who have earned it.”
 
This four-day difference means that Floridians keep four days of earnings more than the national average. Based on a $50,000 annual household income, that’s $548 Floridians are able to spend on their families’ needs, use to pay down debt or put toward a rainy day fund.
 
In addition to falling four days before the nation, Florida’s Taxpayer Independence Day falls before many of its peer states. Most notably, Illinois’ date falls on April 30th, California’s on May 3rd, and New York’s on May 8th.
 
To ensure the state’s taxes remain low and to keep more money in the pockets of its residents, Florida remains committed to putting its finances on display. Through transparent, accessible government, Floridians can demand accountability and responsibility in state spending. To learn more about Florida’s finances, visit www.MyFloridaCFO.com/Transparency.
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Chief Financial Officer Jeff Atwater, a statewide elected official, oversees the Department of Financial Services. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government, reducing government spending and regulatory burdens that chase away businesses, and providing transparency and accountability in spending. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).