Still Ahead of Budget Projections

The latest cash statement from the state controller shows revenues through the first quarter of fiscal year 2015-16 still running ahead of projections in the budget enacted back in June. The extra revenue is coming from the personal income tax. Sales tax and corporate profits tax revenues are running behind. So there is some suggestion that the state is still benefiting from capital gains taxation. Whether current volatility in the stock market will affect the eventual annual totals is unclear.

The cash statement through September is at http://www.sco.ca.gov/Files-ARD/CASH/fy1516_September.pdf