By Kevin Yamamura The Sacramento Bee
Published: Thursday, Feb. 11, 2010 – 12:00 am | Page 4A
Last Modified: Thursday, Feb. 11, 2010 – 9:26 am

State Controller John Chiang reported Wednesday that California collected $1.28 billion more in January tax revenues than Gov. Arnold Schwarzenegger projected in his current budget plan, although Chiang warned that the “state cannot be lulled into a false sense of security.”

The January figures marked an 18.6 percent increase above projections for the month. Each of the three major sources of revenues was higher than anticipated, led by personal income taxes, which came in $930 million above expectations. Corporate tax revenues were above projections by $189 million; sales taxes were up $157 million.

So far in the 2009-10 fiscal year, California has received $459 million above projections, Chiang said.

To read entire story, click here.