Wednesday April 8 is South Dakota's Tax Freedom Day. That's the day when taxpayers in the state have collectively earned enough money to pay their federal, state and local tax bill for the year. National Tax Freedom Day this year falls on April 24; 114 days into the year.

According to the nonpartisan group Tax Foundation, South Dakota is the third state to reach the day. Louisiana reached Tax Freedom Day on April 2, and Mississippi on April 14. Connecticut and New Jersey will be the last to reach Tax Freedom Day on May 13.

It's estimated that in 2015 Americans will pay $3.3 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total bill of more than $4.8 trillion.

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