July 9, 2019

May revenues spike, setting up a bigger jump in June report

Even with turbulence in the stock market and unsettling international trade relations, CA state coffers will likely end the 2018-19 fiscal year well ahead of predictions made just a few weeks ago.

Led by personal income tax collections, state revenues closed out the first 11 months of the year at nearly $125 billion—or $620 million more than had been forecast as part of the revised May budget, according to new figures from the governor’s Department of Finance.

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