Revenue Estimates
Personal Income Tax

The personal income tax forecast has been increased by $1.407 billion in 2007-08 and decreased by $2.725 billion in 2008-09. The 2007-08 increase is due to strong payments, primarily tied to 2007 tax year liabilities. The reduction in 2008-09 is due to a lowered forecast of personal income and capital gains. This forecast estimates that capital gains income will decline by 18 percent in 2008 and grow by 3 percent in 2009. Capital growth rates reflect weakness in 2008 real estate prices and sales, and a lower forecast for stock market gains. Personal income reductions reflect softness in U.S. and California economic growth.
  image of forward arrow
CHAPTER HIGHLIGHTS for Revenue Estimates Back to Top

image of black pointing arrowPersonal Income Tax
 Sales and Use Tax
 Corporation Tax
 Insurance Tax
 Other Revenues and Transfers
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - Revenue Estimates (pdf * - 155K) -
Provides the entire Revenue Estimates Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Summary - Revenue Estimates (January 2008)
Displays Proposed Budget Summary information for Revenue Estimates.