California Revenue Tops 2011 Forecast as Income Taxes Surge
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California’s revenue has exceeded projections by more than $1 billion for fiscal 2011 through February as income-tax collections gained, Governor Jerry Brown’s budget office said.
Since July 1, personal income-tax revenue has beaten projections by $1.3 billion, or 4.3 percent, through last month, according to Finance Department figures released today. Overall collections have exceeded forecasts by $1.024 billion.