On politics in the Golden State
By Chris Megerian
April 19, 2013, 7:00 a.m.
SACRAMENTO — By now it’s a safe bet that California tax revenue will surpass expectations during the current fiscal year. But the question of what that means for the state’s bottom line is far from settled.
California has reaped more than $10.1 billion in income taxes so far in April and could see another $2 billion before the month is over, according to updated figures from Legislative Analyst’s Office. This week had two of the biggest collection days in state history.
The analyst’s office said the state only needed $8.5 billion in April to keep pace with projections. Depending how the next two months pan out, California tax revenue could wind up being a few billions dollar more than expected in the fiscal year, which ends on June 30.
None of this, however, means lawmakers and Gov. Jerry Brown are guaranteed to have more money to play with while they’re hashing out the state’s next budget.
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