California Insider

A Weblog by
Sacramento Bee Columnist Daniel Weintraub

Back to California Insider home page

« Cutting to the bone--California style | | Issa: Is he or isn't he? »

April 25, 2003

Tax returns coming in close to form

April income tax payments, which in past years have produced huge surpluses or revealed massive shortfalls, are coming in fairly close to projections this time around. The latest numbers from the Franchise Tax Board suggest actual receipts might be about $500 million short of the $5.5 billion expected to arrive with this month’s returns. Combined with earlier shortfalls, that could put the state another $1 billion in the hole. Not fun, but compared to disasters in prior years, not the end of the world.