"Graph shows total withholding collections since Monday, March 23, when we first started to see evidence of an impact of the pandemic on withholding. As shown in the graph, total collections between March 23 and October 23 are up 3.4 percent ($1.351 billion) from the same period in 2019."
California state income tax withholding revenues since the pandemic hit now are running ahead of 2019 for the same period. It's another indication that some of the conservative forecasts made about state revenue may have been overly pessimistic. Note that the progressive income tax is heavily tilted toward upper-income taxpayers. But it accounts for almost 7 out of 10 dollars going to the General Fund.
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