State Income Tax

Surprisingly, the state controller is continuing past practice and posting a daily personal income tax revenue tracker for April. In the past, since income taxes are due in mid-April, it was a major month for state revenue. Almost seven out of ten general fund revenue dollars come from the personal income tax. But this time, thanks to the coronavirus crisis, the tax deadline for filing was postponed until July. So the main group that should be filing in April is folks who are due refunds.

The governor back in January - seems like a long time ago! - estimated that personal income tax receipts in April would be $18.4 billion. That estimate was conservative since in April 2019, the month's income tax receipts totaled about $19.2 billion.

While it is surprising that the tracker was posted this year, it has been and so we will track it from time to time, particularly after mid-month.

The tracker is at https://www.sco.ca.gov/2020_personal_income_tax_tracker.html