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.

Tuesday, April 1, 2014

Tax Season Begins

Although some taxpayers can procrastinate, April has started with a sizable inflow.  Personal income taxes net of refunds totaled $458 million on April 1.  This number included money received during the weekend and Monday’s Cesar Chavez holiday.  Adding in a small amount of corporate taxes and retail tax receipts, the total of California’s three major resources clocked in at $513 million.  One-half billion dollars is a good start to reaching the state’s forecast goal of about $13 billion for April as a whole.

What a difference a day makes…  Final payments on the corporate tax are due on March 15, so each year there is a flurry of payment and processing activity at the Franchise Tax Board immediately after the Ides of March.  This year, over 50 percent of all the March collections for this tax were reported on just two days—March 16 and 17.  This pattern is persistent, with small variations.  For example in 2013, a similar percentage of all collections were reported on March 17 and 18.  We will see a similar flurry of activity for individuals around the middle of this month as April 15 appears.

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