Tax Receipts Show California Downturn Continues

This is from the California State Controller's report on March 2008:

Total General Fund revenue for March 2008 was $375 million below (-6.5%) the revenue seen in March 2007. Sales taxes and corporate taxes accounted for most of the decline. Sales taxes were below March 2007 by $167 million (-7.6%) while corporate taxes lagged by $166 million (-10.7%). Income taxes were $70 million (4.2%) above last March. In total, the three largest taxes were $263 million lower (-4.9%) than March 2007.