By Chris Megerian
March 16, 2015
California tax revenue continues to outpace expectations, Gov. Jerry Brown’s administration announced Monday.
The state has collected $633 million more than expected in the current fiscal year, which ends in June.
Most of the bump, $385 million, comes from taxes on personal income. Sales taxes produced $163 million more than administration estimates.
Much of the increased revenue, if not all of it, will probably be directed to schools and community colleges by the state’s constitutional education funding formula.
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