california_state_flag

Jun 10, 2014, 2:07pm PDT
Steven E.F. Brown
Web Editor- San Francisco Business Times

“Where is the growth in sales tax transactions?” asked California Controller John Chiang in his monthly report on the Golden State’s cash balance.

Calling growth in the state’s sales tax receipts “weaker than expected in recent months,” Chiang said he was surprised, “given the improvement in the State’s other major revenues and the economy in general.”

Even in earlier recession years consumers spent enough — on cars, clothing, furniture and in restaurants, for example — to push sales tax growth to 7.8 percent per year between 2011 and 2012.

To read entire story, click here.