November 2023 California Personal Income Tax Daily Revenue Tracker
April 15 is the normal annual personal income tax (PIT) payment deadline. For 2023, April 18 is the deadline as April 15 is a Saturday. However, the Franchise Tax Board extended the deadline in conformity with the Internal Revenue Service in response to the 2022-23 winter storms. Individuals and businesses in counties impacted by 2022-23 winter storms qualified for an extension to file and pay taxes until October 16, 2023. However, the deadline was extended until November 16, 2023.
General Fund PIT receipts for the current fiscal year (FY 2023-24) totaled $39.33 billion through October 31, which was $20.13 billion, or 33.8 percent, lower than anticipated in the 2023-24 Budget Act.
The FY 2023-24 Budget Act estimated year-to-date PIT collections at the end of November to total $66.60 billion. PIT receipts expected for these first five months of the fiscal year represent 45.2 percent of total PIT revenues of $147.32 billion, and 27.1 percent of $246.05 billion total General Fund revenues, anticipated for the entire 2023-24 fiscal year.
The chart below compares the running actual year-to-date total to the estimate of November PIT receipts. The total consists of PIT receipts minus refunds.
November 2023 Preliminary Report of California Personal Income Tax Revenue
(In Thousands of Dollars) *
| 2023-24 FY Date | Daily Personal Income Tax Revenues (Receipts And Withholding Minus Refunds)** |
2023-24 FY Year-To-Date Personal Income Tax Revenues |
|---|---|---|
| Ending Balance October 31 | 39,331,969 | |
| November 1 | 452,493 | 39,784,462 |
| November 2 | 661,119 | 40,445,581 |
| November 3 | 366,339 | 40,811,920 |
| November 4 | *** | *** |
| November 5 | *** | *** |
| November 6 | 376,515 | 41,188,435 |
| November 7 | 212,511 | 41,400,946 |
| November 8 | 42,715 | 41,443,661 |
| November 9 | 314,371 | 41,758,032 |
| November 10 | *** | *** |
| November 11 | *** | *** |
| November 12 | *** | *** |
| November 13 | 386,004 | 42,144,036 |
| November 14 | 207,756 | 42,351,792 |
| November 15 | 196,623 | 42,548,415 |
| November 16 | 604,195 | 43,152,610 |
| November 17 | 577,927 | 43,730,537 |
| November 18 | *** | *** |
| November 19 | *** | *** |
| November 20 | 379,536 | 44,110,073 |
| November 21 | 775,647 | 44,885,720 |
| November 22 | 497,204 | 45,382,924 |
| November 23 | *** | *** |
| November 24 | *** | *** |
| November 25 | *** | *** |
| November 26 | *** | *** |
| November 27 | 820,634 | 46,203,558 |
| November 28 | 59,129 | 46,262,687 |
| November 29 | 345,130 | 46,607,817 |
| November 30 | 636,425 | 47,244,242 |
| November Total | $ 7,912,273 | $ 47,244,242 |
* The reconciliation of these numbers can take up to five business days. Therefore, final November revenues will not be known until the first week of December.
** Amounts are net of refunds. A negative figure indicates the daily refund total outpaced daily receipts and withholdings.
*** No transactions are posted on weekends/holidays.
Refer to the April 2023 Personal Income Tax Daily Revenue Tracker which compares April 2023 PIT Revenues to 2023-24 Governor's Budget estimates. In addition, it contains a comparison of FY 2022-23 to FY 2021-22 PIT revenues.
Source: California State Controller's Office