Healthy Spike in Tax Revenue But Watch the Week of April 19

The Franchise Tax Board reports personal income tax collections on April 15 of $424 million, up $134 million from the prior day.

Bank and corporations tax collections almost tripled from $48 million on April 14 to more than $140 million.

Halfway through the month, personal income tax receipts total $1.5 billion. Bank and corporations taxes are at $391 million.

Gov. Arnold Schwarzenegger’s budget assumes personal income tax receipts of $10.48 billion for the month and $1.92 in bank and corporations tax receipts.

The week of April 19 will be a stronger indicator of whether the state meets or exceeds that goal.

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