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, April 11, 2014

Withholding Fuels Income Tax Revenues

While many Californians may be waiting until this weekend to complete their tax returns, companies have provided a steadier flow of revenues for the State through their withholdings. For the first 10 days of April, withholding taxes totaled about $1.7 billion. This compared with $1.1 billion in estimated and final tax payments and represented about 60% of the total gross personal income tax receipts deposited so far this month.

Tax filings will ramp up dramatically next week, but withholding taxes will continue to flow into the State’s coffers, providing a good source of support.

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