Track California's Tax Receipts
As Revision of Next State Budget Nears
SACRAMENTO — State Controller Betty T. Yee today launched an online tracker for daily personal income tax receipts through April. This month is a pivotal phase for the state’s fiscal outlook as Californians file hundreds of thousands of tax returns and the new fiscal year starts July 1.
Last fiscal year, personal income taxes accounted for 67.9 percent of all state General Fund revenues. A significant share of personal income taxes, 15.4 percent, arrived during the month of April.
The daily tally is accompanied by a chart showing how the running total compares to the $13.5 billion estimate of April personal income tax receipts in January’s 2018-19 budget proposal. The total consists of personal income taxes minus refunds.
As of the end of March, personal income tax receipts for the 2017-18 fiscal year totaled $61.9 billion, 3.1 percent higher than anticipated in the governor’s budget proposal. The governor’s revision of the budget proposal is due May 14.
State and federal returns for the 2017 tax year must be filed by April 17.
As the chief fiscal officer of California, Controller Yee is responsible for accountability and disbursement of the state’s financial resources. The Controller also safeguards many types of property until claimed by the rightful owners, and has independent auditing authority over government agencies that spend state funds. She is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation’s two largest public pension funds. Elected in 2014, Controller Yee is the tenth woman elected to a statewide office in California’s history. Follow the Controller on Twitter at @CAController and on Facebook at California State Controller’s Office.