March tax collections up 5.9%, controller says

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California collected more than expected in taxes for the fourth consecutive month in March, according to new figures released by state Controller John Chiang on Thursday.

The state collected $356 million, or 5.9%, more than forecast. “March numbers were strong on both sides of the ledger. Receipts came in above projections and expenditures came in below,” Chiang said in a written statement. “But the state’s nagging unemployment rate, combined with the fact that personal income tax revenues are trailing last year’s by nearly $1 billion, tells us the road to recovery will be long and arduous.”

For the fiscal year, revenues outpace budget estimates by $2.3 billion, or 4.1%.

-- Shane Goldmacher in Sacramento