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May 2021 California Personal Income Tax Daily Revenue Tracker

Last fiscal year, personal income tax (PIT) accounted for 66.19 percent of all state General Fund revenues. Of those receipts, 6.3 percent arrived during the month of April, compared to 19.5 percent in April 2019, pre-pandemic.

General Fund PIT receipts for the current fiscal year (FY 2020-21) totaled $98.13 billion through March 31, which was 18.9 percent higher than anticipated in Governor Gavin Newsom’s FY 2021-22 budget proposal released in January.

The FY 2021-22 proposed budget estimated April 2021 PIT collections would total $20.97 billion. Actual PIT receipts for April 2021 were $13.74 billion, which was 34.5 percent below estimates for the month. However, fiscal-year-to-date PIT receipts of $111.87 billion through April remain $8.36 billion ahead of estimates, or 8.1 percent. PIT receipts through April represent 71.08 percent of General Fund revenues for the fiscal year to date. (The FY 2020-21 PIT total includes taxes deferred from FY 2019-20 due to the filing deadline extension.)

April 15 is the normal annual PIT payment deadline. However, for the second consecutive year, the Franchise Tax Board extended the deadline in conformity with the Internal Revenue Service. This year, the state and federal PIT payment and filing deadline is May 17. As such, the State Controller’s Office has extended the PIT tracker through May. The governor also will revise his FY 2021-22 budget proposal in May.

The chart compares the running total to the estimate of May PIT receipts. The total consists of PIT receipts minus refunds and Golden State Stimulus. 

April 2019 Preliminary Report of California Personal Income Tax Revenues (In Thousands of Dollars)*

May 2021 Preliminary Report of California Personal Income Tax Revenues (In Thousands of Dollars)*

Month 2021-22 Governor's Budget Estimates for Fiscal Year 2021-22 Monthly Total
Month-to-Date
Actual
 2021-22 Governor's Budget Estimates for Fiscal Year 2021-22 Year-to-Date 
Year-to-Date
Actual
March 2021 4,460,535 5,672,547 82,540,207 98,128,946
April 2021 20,971,175 13,737,786 103,511,382 111,866,732
May 2021 4,667,036 15,145,378 108,178,418 127,012,110
 
Date Daily Personal Income Tax Revenues
(Receipts And Withholding Minus Refunds)**		 Fiscal 2020-21 Year-To-Date
Personal Income Tax Revenues		 Fiscal 2019-20 Year-To-Date
Personal Income Tax Revenues
Ending Balance March 31   $ 98,128,946 $ 66,881,014,
Ending Balance April 15   $ 106,658,965 $ 69,433,664
Ending Balance April 30   $ 111,866,732 $ 72,105,827
May 1 *** ***  
May 2 *** ***  
May 3 262,285 112,129,017  
May 4 60,685 112,189,702  
May 5 385,777 112,575,479  
May 6 1,028,195 113,603,674  
May 7 248,358 113,852,032  
May 8 *** ***  
May 9 *** ***  
May 10 30,513 113,882,545  
May 11 793,904 114,676,449  
May 12 255,209 114,931,658  
May 13 711,672 115,643,330  
May 14 620,374 116,263,704  
May 15 *** ***  
May 16 *** ***  
May 17 989,,234 117,252,938  
May 18 3,123,875 120,376,813  
May 19 2,981,610 123,358,423  
May 20 2,181,618 125,540,041  
May 21 422,119 125,962,160  
May 22 *** ***  
May 23 *** ***  
May 24 47,906 126,010,066  
May 25 639,851 126,649,917  
May 26 287,785 126,937,702  
May 27 (497) 126,937,205  
May 28 74,905 127,012,110  
May 29 *** ***  
May 30 *** ***  
May 31 *** ***  
May Total $15,145,378 $127,012,110 $ 76,586,490

* The reconciliation of these numbers can take up to five business days. Therefore, final May revenues will not be known until the first week of June.

**A negative figure indicates the daily refund total outpaced daily receipts and withholdings.

***No transactions are posted on weekends.

Source: California State Controller's Office