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News & Press: Sacramento Report

California State Revenues Surpass Projections - Rainy Day Fund Anyone?

Tuesday, September 18, 2018  
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For the month of August, California took in more revenue than estimated in the budget enacted at the end of June, according to State Controller Betty T. Yee. Total revenues of $9.98 billion for August were higher than anticipated in the budget by $1.14 billion, or 12.9 percent. For the first two months of the 2018-19 fiscal year, revenues were $846.0 million, or 5.4 percent, higher than projected in the enacted budget.

While corporation taxes missed August estimates, personal income tax (PIT) and sales tax – the other two of the “big three” revenue sources – came in higher than planned in the budget signed by Governor Brown.

California Land Title Association

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