SACRAMENTO – State Controller Betty T. Yee reported the state received $9.69 billion in revenue in November, exceeding projections in the 2018-19 fiscal year budget by 15.1 percent, or $1.27 billion.

Personal income tax (PIT), sales tax, and corporation tax – the state’s “big three” revenue sources – all were higher than expected in the enacted budget.

For the fiscal year, revenues of $44.97 billion are 5.4 percent ($2.29 billion) higher than projected in the budget enacted at the end of June. Total revenues for FY 2018-19 thus far are 9.8 percent ($4.02 billion) higher than through the same five months of FY 2017-18.

For November, PIT receipts of $5.96 billion were 22.3 percent ($1.09 billion) more than expected in the FY 2018-19 Budget Act.

Sales tax receipts of $3.52 billion for November were 12.4 percent ($388.4 million) greater than anticipated in the FY 2018-19 budget.

November corporation taxes of $26.9 million were 2.8 percent higher than FY 2018-19 Budget Act estimates.