Westly Says Revenues Higher Than Forecast
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State Controller Steve Westly said Friday that July state revenues totaled $4.05 billion, about 9% higher than last year’s figures.
“California’s economy continues to show its strength,” he said in a statement. Retail sales and use taxes were 9.5% higher than last year’s figures, he said, bringing in $983.7 million. Corporation taxes accounted for $330 million in July -- $78 million, or 31%, more than in July 2003.
Personal income taxes accounted for $2.5 billion of the state’s revenue, 7.6% higher than the year before, or about $176 million.
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