More tax money for Sacramento

Good news is that receipts for September were 15.3 percent above estimates last May. That covers corporate taxes, personal income taxes, and sales taxes. Bad news is that the state has to start paying out $8.3-billion in payments owed since July 1, when the budget year began. That's way more than is available, so California will need to go to the public market to borrow up to $10 billion. At least there won't be any IOUs this year. Here's the Controller's 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
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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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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