Friday, May 8, 2009

California Sales Tax Receipts and Other Indicators Turn Lower

Did anyone see the California Statement of General Fund Cash Receipts and Disbursements, just released?: Sales taxes were $452 million lower (-50.9%) than last April, and personal income taxes were down $5.7 billion (-43.6%).

California Retail Sales Tax Receipts YoY
Apr-09 -50.90%
Mar-09 -19.20%
Feb-09 -10.60%
Jan-09 -40.70%
Dec-08 1.60%
Nov-08 -17.30%
Oct-08 -4.90%
Sep-08 3.50%
Aug-08 -9.10%
Jul-08 -0.70%
Jun-08 0.90%
May-08 -16.50%

Everything I am seeing shows that there was a slight bounce in February/March 2009 and the fall has now RESUMED.


GS751 said...

OUCH.. great posts lately..

eh said...

Doomsville. How can such drastic revenue shortfalls not have a catastrophic impact?