Tax agencies have provided preliminary information on key July 2016 state General Fund revenues.
We display the administration's Proposition 30 revenue estimates, as of the 2016 May Revision, as well as our office's estimates.
This post compares the administration's multi-year forecast revenue estimates with those generated under the LAO May 2016 economic growth scenario through 2019-20. (This does not reflect required transfers to the Budget Stabilization Account under Proposition 2 under the LAO figures, as those estimates are still under development.)
This post discusses the near-term state General Fund revenue outlooks of both the administration and our office.
We have now received preliminary data from all the tax agencies concerning April 2016 collections of the personal income tax, the sales and use tax, and the corporation tax. These are the state General Fund's "Big Three" revenue sources.
We have received preliminary information from the state's tax agencies on February 2016 collections of the California's "Big Three" state General Fund taxes.
As part of the annual budget development process, the administration provides us with its current estimates of Proposition 30 revenues through 2018-19. 2018-19 is the last fiscal year affected by the Proposition 30 income tax increases for high-income Californians.
We provide a comment on the key tax revenue projections in the Governor's initial 2016-17 state budget proposal, which was released on January 7, 2016.
Preliminary tax agency data on November 2015 revenue collections has been received.
The expiration of the Proposition 30 sales tax increase affects the sales tax projections in our new Fiscal Outlook publication.
In conjunction with the November 2015 edition of our Fiscal Outlook, we update our estimates for the revenue effects of Proposition 30 (2012).
Preliminary data has been released by the state's tax agencies concerning October 2015 state revenue collections.
Personal income tax collections in September were hundreds of millions above the Governor's projections for the month.
We discuss new data on forgone state General Fund revenue resulting from the partial sales tax exemption on certain sales of manufacturing and R&D equipment.
Updated information about July 2015 major tax collections in California's General Fund has been released.