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Dramatic Uptick Needed for Tax Collections To Hit Estimates
Income tax collections improved Monday April 26 over Friday April 23rd’s totals, reaching nearly $540 million, the Franchise Tax Board reported.
But that may not be good enough for the state to reach its April revenue targets.
Half of the money in California’s cash-starved general fund comes from income taxes, 17 percent of that total is received in April. Read more »
Some Major Revenue Action Necessary in April’s Final Innings
Dozens of bags full of six figure tax returns need to be found for the state to meet its revenue target for April.
Unlike the past two years when the Monday following April 15 yielded returns of $1.5 billion and $1.6 billion, this year’s Monday April 19 brought in just $699 million. Read more »
Eight Days to Go and the Tax Revenue Still Far from Targets
While the Franchise Tax Board insists there are still plenty of bags of tax returns to open, April 22 receipts reflected a four-day fall from $699 million on Monday April 19 to $300 million.
Bank and corporations tax collections, which were $68 million on April 19 were $32.2 million April 21, Franchise Tax Board tallies show. Read more »
Does this Fundraising Appeal Cross the Out-of-Bounds Line?
(Editor’s Note: Government Code Section 84308 states:
“No officer of an agency shall accept, solicit, or direct a contribution of more than two hundred fifty dollars ($250) from any party, or his or her agent, or from any participant, or his or her agent, while a proceeding involving a license, permit, or other entitlement for use is pending before the agency and for three months following the date a final decision is rendered in the proceeding if the officer knows or has reason to know that the participant has a financial interest, as that term is used in Article 1 (commencing with Section 87100) of Chapter 7. Read more »
Nine Days To Go in April: Revenue Still Far Below Estimates
State tax collections fell or the third straight day April 21, increasing the odds California will not meet its revenue projections for the month.
Gov. Arnold Schwarzenegger’s proposed budget predicts nearly $10.5 billion in personal income tax revenue for the month and an additional $1.9 billion in bank and corporations tax receipts. Read more »
Tax Receipts Lag at a Time of the Month They Should Climb
While the Franchise Tax Board insists its still to early to assess how tax collections will fare by the end of the month, April 20 was another disappointing day.
Personal income tax receipts for the day were $468 million, down from $699 million on April 19. Last year, combined totals for the first two days after the weekend following April 15 were $1.7 billion. Read more »
Carpet-Bombing Slowdown: Five Day Lag Between Mailers
(Editor’s Note: This is the second pro Proposition 16 to arrive within five days. Here is the first one, which is similar.
Proposition 16 would require a two-thirds vote before cities or counties could contract with an electricity provider other than the investor-owned utility that would otherwise serve that local area. Read more »
A Fairly Succinct Analysis of the True Nature of Government
“Government is like watching another man pissing in your boot. Someone feels better but it certainly isn’t you.”
— Orson Scott Card, Heartfire Read more »
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