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California Revenues Strong In March

Andrea Nixon, Capital Public Radio
 

Andrea Nixon, Capital Public Radio

The California Controller reports today General Fund revenues for March came in $547 million above projections.

Nearly $500 million of that can be attributed to income taxes.  Corporate tax revenues came in $77 million above expectations. But sales taxes fell short, with revenues coming in nearly $100 million below projections.

For the fiscal year to date the state’s General Fund revenues are nearly $75 billion, more than 2 percent above expectations. So far income, corporate and sales taxes are all exceeding projections for the fiscal year.