Watching the Tax Dollars Come In

April 18, 2011 · Filed Under CA Budget, Taxes · 1 Comment 

Wednesday 10:49 a.m. update: The last two days since this posting was written have been huge for income tax receipts -- almost $1.9 billion in just 48 hours, thus putting the state on a path to possibly exceeding expectations. No doubt that would change the political debate over revenues come May. --JM

This may not be the thing you want to hear on the day you're asked to hand over your taxes owed in 2011, but the state of California needs your cash. And fast.

Through Friday, state data shows only about 31% of the tax revenues projected -- and counted on -- for April had come in, meaning the month needs to finish big to avoid adding to California's fiscal pressures.
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