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California's personal income tax collection last month fell short of expectations.
The state collected just $7.34 billion in April, the month that's generally responsible for about a quarter of all personal income tax payments, the State Controller's Office said today.
A year ago, April produced $13 billion in personal income tax payments.
The weak April means the state is falling short of the targets established by the budget package adopted by the Legislature in February. Under the forecast incorporated in the budget plan, the state should have collected $38.3 billion for the fiscal year that started last July 1. But it's $700 million short.
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The state collected just $7.34 billion in April, the month that's generally responsible for about a quarter of all personal income tax payments, the State Controller's Office said today.
A year ago, April produced $13 billion in personal income tax payments.
The weak April means the state is falling short of the targets established by the budget package adopted by the Legislature in February. Under the forecast incorporated in the budget plan, the state should have collected $38.3 billion for the fiscal year that started last July 1. But it's $700 million short.
More...