Not Getting Close in April (And We Won't)

As we have noted in prior posts, although normally April is a big month for state revenue collection because of the usual deadline for income tax payments, this year will be different. The deadline for paying 2019 income tax has been pushed back to July. Whether the July revenue will make up for the lost April revenue is unclear. Some hard hit taxpayers may simply not pay. Others may defer (although when you defer, you are supposed to pay an estimated tax). Perhaps more importantly, withholding and estimated tax payments for the 2020 calendar year will surely be revised down, given current economic conditions.

The April revenue tracker is available from the state controller at:
https://www.sco.ca.gov/2020_personal_income_tax_tracker.html