The California Board of Equalization said today that it received $4.64 billion in general fund sales and use tax revenue in the first quarter of the 2012-13 fiscal year ended Sept. 30.
BOE board member George Runner said that was 2.5 percent shy of the state Department of Finance's budget projection of $4.76 billion.
"It's too early to know for sure, but so far sales tax revenue appears to be largely on track to meet the state's budget needs," Runner said.
Runner also noted that high gas prices have the potential to create a tax windfall for state and local governments.
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