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Cash Revenues Up in March; April Will Be More Telling

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(Sacramento, CA)
Wednesday, April 10, 2013
Revenues in March were $395-million above the Governor's budget estimates.
That puts total revenues for the fiscal year more than $4-billion above estimates so far.
But April will be key for the state as income tax deposits continue to roll in. 
So far the state has collected just $1.7 billion of an expected $12.7 billion in personal income taxes in April.
But analysts say not to jump to conclusions; most of the money is usually collected in the last few weeks.
Personal income tax in March came in almost 15-percent above monthly estimates.
And corporate taxes were up almost six percent. 
Sales taxes didn't meet expectations though, coming in about 8-percent below estimates in the state budget.
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