State Controller John Chiang says last month's revenues came
in more than $200-million above projections.
The improving job market strengthened personal income tax
revenue.
It increased more than 10-percent, exceeding both expectations
and last year's total.
And stronger consumer confidence and spending boosted sales
taxes above projections.
On the down side…corporate taxes were 47-percent below
expectations and came in lower than October of last year.
But Chiang says more importantly, revenue for the year is
"spot-on" with the state's budget projections.
Next week the Legislative Analyst's Office will release its
budget outlook for the coming fiscal year.
