California’s strong fiscal outlook remained mostly unchanged in July, with revenues down a fraction of a percent.
The state controller’s office says personal income taxes continue to beat projections. California collected $4.5 billion in income tax last month, nearly 3 percent more than expected.
That higher revenue was muted, however, by shortfalls in other tax receipts. Sales tax fell short of projections by more than 10 percent and corporation tax collections came in just below expectations.
- Capital Public Radio staff
Follow us for more stories like this
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.
Donate Today
