California revenues were exceptionally strong in 2006, but are projected to grow more moderately in 2007 and 2008. For the budget year, revenues are expected to grow to $101 billion, a 7.2-percent increase from 2006-07.
Figure REV-01 summarizes the forecast for 2006-07 and 2007-08 and provides a preliminary report of actual receipts for 2005-06, compared to the 2006 Budget Act forecast. The Governor's Budget forecast was prepared in early December, before individuals and corporations made final withholding and estimated payments and before consumers completed their December purchases. The strength of this late December and early January activity can have a large impact on state revenues. This forecast will be revised in early May when these data and April income tax receipts are available.
The state's tax system is outlined in Figure REV-02. Tax collections per capita and per $100 of personal income are displayed in Schedule 2 in the Appendix. The revenue generated from each state tax from 1970-71 through 2007-08 is displayed in Schedule 3 in the Appendix.
CHAPTER HIGHLIGHTS for
Revenue Estimates Back to Top
PRINTABLE BUDGET DOCUMENTS Back to Top
Budget Summary - Revenue Estimates (pdf * - 231K)
Provides this entire Revenue Estimates Chapter in pdf format.
SCHEDULE 2 - Summary of State Tax Collections (pdf * - 9K) -
State Tax Collections per capita and per $100 of personal income.
SCHEDULE 3 - Comparative Yield of State Taxes (pdf * - 12K) -
Revenues for Major State Taxes from 1970-71 through 2007-08.
SCHEDULE 8 - Comparative Statement of Revenues (pdf * - 20K) -
Detail of General and special fund revenues by source for the past, current, and budget years within the following categories: (1) major taxes and licenses, (2) minor revenues, and (3) transfers and loans.
ADDITIONAL INFORMATION Back to Top
Board of Equalization
This site provides information about taxes levied on property, sales, fuel, cigarettes, and alcoholic beverages. The Board prepares an annual report which can be located using that site's search function.
Franchise Tax Board
This site provides information about taxes levied on personal income and on corporations. The Board prepares an annual report which can be located using that site's search function.
Tax Expenditure Report
The Department of Finance annually updates this report on major tax exemptions, exclusions, and credits. This report is posted on Finance's website within the "Financial and Economic Data" page.