CA Revenue Down Again, Budget is $1.1Billion Under Water
04/10/2012 Leave a comment
The Sac Bee Capitol Alert has the story: California revenues 4.2 percent shy in March
The state missed its target most in corporate income taxes, which were $125.8 million (8.2 percent) off the mark. Income taxes and sales taxes were each less than 2 percent behind Gov. Jerry Brown‘s revenue forecast.
For the fiscal year that ends in June, the state is now trailing Brown’s expectations by nearly $1.1 billion, or 1.9 percent.
Because April is such a important month for state budgeting, Chiang has a daily revenue tracker on his website. By the end of the month you will know how much trouble the state is really in. State and Federal Taxes have to be filed by the 16th of April and so far the state has only collect $923 million to the $9.132 billion that is Brown is looking for this month. Stay Tuned.