Friday, March 30, 2012

Florida Consumer Confidence and Tax Season


Florida Consumer Confidence - March 2012

Consumer confidence among Floridians fell two points in March to 74. Among the five components making up the index two increased and three decreased. Personal finances now compared to a year ago increased three points to 62, a post-recession high. Expectations of personal finances a year from now increased one point to 82. Expectations of U.S. economic conditions over the next year declined one point to 73 while expectations of U.S. economic conditions over the next five years fell six points to 75. Perceptions as to whether it is a good time to buy big ticket items fell four points to 79.

Florida Real Estate - Find Homes For Sale in Florida

“The patter of consumer confidence from December to February was exactly the same as last year,” said Chris McCarty, the Survey Director. “In March 2011 confidence among Floridians fell four points to 72, then kept falling through August coinciding with a pullback in spending among Floridians. This month the decline was only two points, but still down. While the context this month is different than last year with the absence of the Japanese earthquake and Arab Spring, other factors are increasingly likely to lead to a similar result.”

How Florida's taxes compare to other states

Tax season is upon us, not exactly the happiest time of year. If it helps, maybe just a little, many of you will only have to work a couple of more weeks before you hit Tax Freedom Day. That's right, the average Floridian worked until April 11 last year to pay off all federal, state and local taxes.

The rest of the year was money in their pocket, at least according to the Tax Foundation. Florida was the 16th state to celebrate tax freedom last year. Mississippi was first (March 26) and Connecticut was last (May 2). How does Florida compare in some other tax measures?

42 Florida's rank on the list for state tax collections with $1,680 per capita. Alaska was highest with $6,395, and South Carolina lowest with $1,475. (2010 data)

5th Florida's rank on the list of most favorable tax climates for business in 2012. Wyoming was most favorable, New Jersey least favorable.

35 cents

Florida's tax on gasoline per gallon, 10th highest. New York was highest, with 49 cents per gallon, and Alaska the lowest with 8 cents.

48 cents

Florida's tax on beer per gallon, eighth highest. Wyoming was the lowest at 2 cents, and Alaska the highest at $1.05 (as of Sept. 1).

16.57 %

Florida's state and local cellphone tax rate, fourth highest. Nebraska was the highest at 18.64 percent, and Oregon the lowest at 1.81 percent (as of July 1, 2010).

$2,155 Florida state debt per capita, ranking it No. 41. Massachusetts was highest, owing $11,310 per capita, more than 12 times higher than the $922 average in lowest ranked Tennessee (fiscal year 2009).


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