California State Controller John Chiang offers this daily tax tracker to follow personal income taxes, sales and use taxes and corporate taxes -- the three major sources of revenue for the State.

The site will be updated regularly throughout each business day. Preliminary posts use dollar figures from tax administration agencies, while the following day the Controller will post reconciled (actual cash) figures. The latest figures are always available via direct download. Preliminary sales tax figures, along with personal income tax withholdings will be available by 10:30 a.m., followed by total personal income and corporate tax receipts, along with final sales tax numbers between 1:30 and 4:00 p.m. the same business day.

The chart on the right of this screen tracks the cumulative total of income, sales and corporate tax and compares it against estimated benchmarks for the month.

Friday, March 28, 2014

Retail Sales Perk Up

After lagging behind projections during most of March, retail sales may be picking up as the month comes to an end.  During the last two days (March 27 and 28), month-to-date totals have exceeded forecasts.  With weekend sales still to be tallied, tax receipts are at 99.8% of the target for the month as a whole.

Sales tax receipts during the past week are also running well ahead of a year ago.  This is impressive since Easter fell at the end of March last year (March 31) but will not occur this year until the latter part of this April (April 20).

The Tax Tracker reports revenue collected from the corporate, sales and personal income taxes, irrespective of into which account the revenue is deposited.  For example, the proceeds of a surcharge on high-income taxpayers is earmarked for mental health services.   Because a piece of the income and sales taxes are earmarked for specific programs, the general progress of annual collections are as important to those who monitor these programs as well as it is to those watching the health of the General Fund.

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