More tax money coming in

A potentially hopeful economic indicator: State revenues came in above projections for the third month in a row, with February's receipts topping estimates by $480 million. The difference came from larger-than-expected corporate and sales tax revenues. Personal income tax revenues were smaller than expected. State Controller John Chiang says that the additional revenue, along with recent legislative action on improving cash flow, should cover everybody's tax refunds this spring. "While the worst may be behind us, we still face cash challenges later in the summer absent enactment of further credible and sustainable budget and cash solutions," Chiang says. Here's the report.


More by Mark Lacter:
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Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
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Further fallout from airport shootings
Crazy opening for Twitter*
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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