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.

Wednesday, April 23, 2014

California Ahead of Projections

Through April 22, the State’s total revenue is at $74.4 billion for the year, which is $3.1 billion ahead of the latest forecasts. With personal income taxes showing a strong start to the day, this trend of strong revenues is likely to continue.
Speaking of capital gains:  Statute sometimes allows taxpayers to carry over their capital losses from one year to the next. For the five-year tax period ending in 2011, the latest year for which the Franchise Tax Board reports, the inventory of losses rose from an estimated $64.1 billion to $121.3 billion.

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