California’s Income and Corporate Tax Revenues Are Beating Forecasts

Strong receipts in September brought totals since April to about $7.3 billion more than expected.

The Golden Gate Bridge in San Francisco. Trevor Piper/The Epoch Times

California’s monthly tax collections are exceeding expectations, according to an Oct. 22 report from the state’s Department of Finance that shows receipts being $4.1 billion higher for the current fiscal year since April than was anticipated in the budget.

The newly released report shows an excess of $7.3 billion, with $3.2 billion of the cash attributed to the prior fiscal year that ended in June.