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California Revenues Beat Projections

Sacramento, CA — When the fiscal year ended on June 30th, California beat its 2014-15 budget projection by $6.8-billion. Notably, personal income tax receipts beat estimates by $5.8-billion over the previous 12 month period, and corporation taxes were up by 1.6-billion.

June’s revenues alone were up by $762.5-million than what had been predicted a month prior in the May-revised budget.  A sign of an improving economy, compared to the 2013-14 fiscal year, total revenues were up 12.7-billion. The information was released through the California State Controller’s Office.