Business News
SACRAMENTO – State Controller John Chiang on Friday released his monthly report covering California’s cash balance, receipts and disbursements in October 2012, showing that total revenues were $207.9 million above (4.4 percent) projections contained in the 2012-13 State budget.
“October’s numbers were positive, due in large part to strong income tax receipts,” said Chiang. “More importantly, total year-to-date revenue is spot-on with the budget’s projection.”
Personal income taxes in the month of October rose $378.4 million above (10.6 percent) projections, while sales taxes also were up by $28.8 million (4.4 percent) relative to projections. Corporate taxes were down for the month, coming in $131.3 million below (47 percent) projections.
The state ended the last fiscal year with a cash deficit of $9.6 billion.
As of Oct. 31, that cash deficit totaled $24.7 billion, and is being covered with $14.7 billion of internal borrowing (temporary loans from special funds), and $10 billion of external borrowing.
For more details on today’s report, read October 2012’s financial statement and summary analysis.
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LAKE COUNTY, Calif. – A new network of local businesses and residents is launching and seeking business owners, visionaries and shoppers as partners.
“We are especially looking for visionaries and business owners at this time – visionaries see how this creates a passive revenue stream, and business owners see the advantage of increased customer loyalty and marketing exposure” explained Eric Schlange, one of the collaborators on the project.
Schlange serves on the Lake County Chamber of Commerce board of directors and is pursuing this project with the help of other local businesspeople.
The local network of merchants and shoppers is just a small part of a larger global network which already boasts over 30,000 merchants and 2.5 million shoppers.
Informational meetings are being held weekly on Mondays at 6:30 p.m. at 98319th St. in Lakeport.
Business owners and entrepreneurs are especially encouraged to attend and learn about the benefits of joining this innovative network.
For more information call Eric Schlange at 707-245-6611 or visit www.LakeLoyalty.com .
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- Written by: Editor
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