Revenue collections through January have been well ahead of projections in the recently released 2021-22 Governor’s Budget. After accounting for changes in constitutionally-required spending, we estimate that these higher-than-expected collections represent a roughly $4 billion increase in discretionary state funding relative to the Governor’s Budget.
December revenue collections from the state’s three largest taxes were ahead of Governor’s Budget projections by $3.0 billion (21 percent).
November revenue collections from the state’s three largest taxes were ahead of budget projections by $2.4 billion (33 percent).
We discuss the main revenue forecast in our 2021-21 Fiscal Outlook.
October revenue collections from the state’s three largest taxes were ahead of budget projections by $2.8 billion (40 percent).
September collections from the state’s three largest taxes were ahead of budget projections by $4 billion (42 percent).
August revenue collections from the state’s three largest taxes were ahead of budget projections by $1.7 billion (24 percent).
Total revenue collections for the state’s three largest taxes came in 9 percent ($4.3 billion) ahead of budget projections.
We discuss data on recent state personal income tax and corporation tax collections.
We discuss data on recent state personal income tax and corporation tax collections.
We discuss data on recent state personal income tax and corporation tax collections.
We discuss monthly collections from the state's three largest taxes.
We discuss monthly collections from the state's three largest taxes.
We discuss monthly collections from the state's three largest taxes.
We discuss monthly collections from the state's three largest taxes.