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Tax Revenue Ahead of Projections

Posted on Monday, May 2, 2011 5:30am

According to the State Controller, as of Thursday, California had raked in nearly six-point-eight billion dollars in personal income tax revenue.  That’s just shy of the Department of Finance’s projection for the month.  In fact, the state’s non-partisan legislative analyst predicts California will bring in about 250 million dollars more in income taxes this month than expected.
Additionally, the Analyst points out that through the end of March, general fund cash tax revenues are up about two billion dollars. That’s likely to spark a fierce debate in the legislature over how to work the new figures into the state’s fiscal picture.

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