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Sunday, August 12, 2007

Sales Tax Revenue Declines in California

by Calculated Risk on 8/12/2007 11:29:00 PM

Controller Releases July Cash Flow Figures (hat tip ww)

“Much of the July tax revenue shortfall appears to be due to disappointing sales tax revenues,” Chiang said.
In July, sales tax revenues fell $465 million below (-34.2%) the Governor’s May Revise, and were $34 million below (-3.5%) sales tax revenues for July 2006.