“Taxmageddon is coming from a variety of income tax rates increases, a higher death tax, new taxes from Obamacare, and many more. These tax hikes will primarily hit the middle class, with the dreaded Alternative Minimum Tax being the worst offender. You need to see the details to grasp just how bad it is,” states the Heritage Foundation.
The Heritage Foundation has broken out these federal tax hikes by state, so Floridians may see how bad taxmageddon is for them. According to the analysis Florida will see a total federal tax increase of $34.37 billion. With an average income per tax return of $65,085 that results in an average federal tax increase of $3,669 per tax return.
To view the impact of Taxmageddon on you and your state please click here.