Good but Not Great

Traditionally, the final two Mondays of April – after the income tax deadline on the 15^th  — are the biggest collection days of California’s biggest income tax collection month.

On April 20, the Franchise Tax Board reported $1,150,715 billion in income tax revenue, pushing the month’s total collections to nearly $4.1 billion.

The budget Gov. Schwarzenegger signed in February is premised on the state collecting $8.9 billion in income tax revenue in April.

Last year, the Monday following the first weekend after April 15 the state posted $1.6 billion in income tax collections and $2.8 billion the following Monday. There was an additional $1.4 billion on Tuesday.

 To reach the $8.9 billion, April 27 and April 28 will need to be as robust as April 28 and April 28 were last year.

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