California's income tax results for December came in strong this year, according to a report released by the Legislative Analyst's Office on Jan. 7.
The office is a nonpartisan government agency that has been providing fiscal and policy advice to the California Legislature since 1941.
According to the report, personal income tax and corporation tax revenue collections for December were a combined $1.6 billion, or 20%, above monthly projections included in the state's 2013-14 budget plan.
For the fiscal year to date, these two revenue sources combined are running $2.1 billion, or 8%, above the budget projections.
The LAO report noted that December is an important month for personal income tax collections as high-income taxpayers begin to make their final estimated payments for the calendar year, which are due on Jan. 15. Estimated payments in December totaled $3 billion, or $1.2 billion above projections.
Corporation tax revenue collections for the month were $1.3 billion, or $182 million above projections.
The LAO said data for other tax sources in December will be available later this month.
The positive revenue results come just before Gov. Jerry Brown is expected to release his proposed 2014-15 state budget plan. He will hold a news conference in Sacramento on Jan. 10 to introduce his budget plan, followed by conferences in San Diego and Los Angeles.