We have received preliminary data from tax agencies concerning California's state income tax collections in December 2015.
We discuss the distinctions between our personal income and personal income tax projections.
In conjunction with the November 2015 edition of our Fiscal Outlook, we update our estimates for the revenue effects of Proposition 30 (2012).
Personal income tax collections in September were hundreds of millions above the Governor's projections for the month.
We answer some questions we receive about California's budget and the stock market downturn of recent days.
In total, 2014-15 General Fund agency cash revenue collections exceeded the Governor's estimate, as incorporated in the 2015-16 budget plan he signed into law last month, by $732 million.
Collections of the state's three major General Fund taxes combined for 2014-15 were over $650 million above the Governor's projections as incorporated into the budget act signed on June 24.
We discuss the May Revision estimates for Proposition 30 revenues.