No Dancing in the Streets But It’s Getting Better All the Time

Tax collections are starting to get up a head of steam.

The day after April 15, the Franchise Tax Board reported income tax receipts of $858 million — more than twice the previous day’s haul of $424 million.

That pushed month-to-date collections to $2.4 billion – still well shy of Gov. Arnold Schwarzenegger’s $10.48 billion for the month.

As for bank and corporate tax payments, the state is more than halfway toward the GOP governor’s end-of-the-month goal of $1.92 billion.

April 16 bank and corporations collections were $654 million – nearly five times the $140 million logged the day before.

A better sense of how on-target the governor’s numbers are comes during the week of April 19 as more envelopes are opened.

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