California Business Minute™

The California Redevelopment Association, CRA provides legislative
advocacy, professional development and public education.  In support
of its members it responds to legislative proposals and administrative
regulations.

For further information, contact us www.calredevelop.org or at 916-448-8760

Hi, I am Tim Johnson and welcome to the California Business Minute.

Yesterday was California's Tax Freedom Day, the point in the year when taxpayers are
symbolically freed from federal, state, and local tax burdens and can start spending their
wages as they wish.

The term Tax Freedom Day was coined to illustrate how many days a typical American
must work just to satisfy the tax man. Californians spent the first 122 days of 2008 working
exclusively to pay various levels of government.

If that calculation wasn't taxing enough, realize that California's Tax Freedom Day is one week
later than the national average but a week earlier than last year. Because different states and
municipalities have different tax rates, Tax Freedom Day varies from state to state. California,
with its high sales and income taxes has the fourth-highest tax burden in the country, much
higher than Alaska, the least taxed state. For the fifth consecutive year, California has ranked
in the top 10 worst states for taxpayers.

California shares boundaries with two taxpayer-friendly neighbors. Oregon and Arizona both
observed Tax Freedom Day 2008 earlier in April, Oregon almost two weeks earlier than California.

I am Tim Johnson and this has been the California Business Minute.

WHY DO I READ THE CALIFORNIA BUSINESS MINUTE?