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Friday’s business headlines

Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.

Indiana ranks 5th in economic wellness study

The rankings of “Rich States Versus Poor States” is out gauging economic wellness.

It’s from the American legislative exchange council.

Indiana ranks No. 5 on the list.

Indiana was noted for estate tax laws and being a right to work state. Utah ranked number one.

IRS expects to collect $2.33 trillion in taxes

The countdown to tax day is on with the April 15 tax filing deadline.

The federal government expects to collect about $2.33 trillion in individual income taxes this year, while the IRS expects more than 168 million individual tax returns.

Kathy Pickering, the chief tax officer at H&R Block, says if you don’t have everything together by now, you should consider filing an extension.

“Filing an extension is really pretty easy. You go online. It’s a simple form and it will automatically give you an extension until Oct. 15.”

The personal finance site Self Financial says the average American pays $525,000 in taxes in their lifetime.

Report: Buyers getting a break on used cars

In its March industry insights report, Cars Commerce says the used car market supply increased over last year, with average prices hitting a 32-month low of just over $28,000 — a 5% decrease.

Additionally, almost 70% of dealers feel inventory levels are just right – a stark change from the inventory fluctuations that have plagued the industry since the pandemic supply chain disruptions.

Amazon: Delivering at “fastest speeds ever”

According to Amazon CEO Andy Jassy, Amazon delivered at the fastest speeds ever to prime members, with more than 7 billion items arriving same or next day, including more than 4 billion in the U.S.

For all of 2023, Jassy said customers saved nearly $24 billion across millions of deals and coupons, almost 70% more than the prior year.

Grocery shopping while hungry leads to more spending

A recent poll of 2,000 Americans found that the average person makes two grocery runs per week and budgets $162 for their haul.

Conducted by OnePoll and commissioned by Dole Food Company, the results showed that shopping hungry results in an extra $26 spent, on average.

The average person is shopping to feed two while 30% are shopping to feed just themselves.

According to respondents, the best time to shop to avoid rushes and crowds is 8 – 10 a.m.