State income tax revenues for January totaled $16.34 billion, which was $2.53 billion higher than expected.
By Kathleen Pender
Published: February 13, 2018
Updated: February 13, 2018 – 4:00pm
California’s tax revenues far exceeded expectations in January for the second consecutive month, but it remains to be seen how much of the excess reflects underlying strength in the economy, versus people speeding up their 2017 state income tax payments while they were still fully deductible on federal tax returns.