Revenue Estimates
Sales and Use Tax

The sales and use tax forecast has been increased by $12 million in the current year and decreased by $506 million in the budget year. Through March, sales tax receipts have tracked closely to estimates.

Current law requires the transfer of some gasoline and diesel fuel sales tax revenues from the General Fund to the Public Transportation Account (PTA); a portion of this transfer is known as "spillover." In 2006-07, $200 million of spillover revenues that would otherwise be transferred to the PTA was used to repay transportation debt and $125 million was transferred to the Bay Area Toll Account. The Governor's Budget estimated that $224 million would be transferred to the PTA as spillover in 2006-07; this amount has been increased to $226 million.

The Governor's January budget estimated $617 million in spillover funds for 2007-08 and proposed that $340 million be used to repay transportation debt, with the remainder transferred to the PTA as spillover. The May Revision forecasts that 2007-08 spillover transfers will be $827 million due to higher gas prices in 2007.
image of backward arrow image of forward arrow
CHAPTER HIGHLIGHTS for Revenue Estimates Back to Top

 Personal Income Tax
image of black pointing arrowSales and Use Tax
 Corporation Tax
 Insurance Tax
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - Revenue Estimates (pdf * - 30K) -
Provides the entire Revenue Estimates Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Summary - Revenue Estimates (January 2007)
Displays Proposed Budget Summary information for Revenue Estimates.
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.