Business News
SACRAMENTO – State Controller Betty T. Yee on Thursday reported California collected more tax revenue during the month of April than in any previous month of the 2017-18 fiscal year so far.
Moreover, total April revenues of $18.03 billion were higher than estimates in the governor’s FY 2018-19 proposed budget by 5.3 percent.
For the first 10 months of the 2017-18 fiscal year that began in July, total revenues of $107.13 billion are $4.72 billion above estimates in the enacted budget and $3.82 billion higher than January’s revised fiscal year-to-date predictions. Total fiscal year-to-date revenues are $10.25 billion higher than for the same period in FY 2016-17.
For April, personal income tax, or PIT, receipts of $14.17 billion were $715.9 million, or 5.3 percent, higher than estimated in January. For the fiscal year, PIT receipts are $2.58 billion higher than anticipated in the proposed budget. Traditionally, April is the state’s peak month of PIT collection.
April corporation taxes of $2.40 billion were $78.4 million higher than forecasted in the governor’s proposed budget. For the fiscal year to date, total corporation tax receipts are 13.5 percent above assumptions released in January.
Sales tax receipts of $946.1 million for April were $139.1 million, or 17.2 percent, higher than anticipated in the governor’s FY 2018-19 budget proposal. For the fiscal year, sales tax receipts are in line with the proposed budget’s expectations.
Unused borrowable resources through April exceeded January projections by 36.9 percent. Outstanding loans of $4.52 billion were $6.35 billion less than the governor’s proposed budget expected the state would need by the end of April. The loans were financed entirely by borrowing from internal state funds.
Moreover, total April revenues of $18.03 billion were higher than estimates in the governor’s FY 2018-19 proposed budget by 5.3 percent.
For the first 10 months of the 2017-18 fiscal year that began in July, total revenues of $107.13 billion are $4.72 billion above estimates in the enacted budget and $3.82 billion higher than January’s revised fiscal year-to-date predictions. Total fiscal year-to-date revenues are $10.25 billion higher than for the same period in FY 2016-17.
For April, personal income tax, or PIT, receipts of $14.17 billion were $715.9 million, or 5.3 percent, higher than estimated in January. For the fiscal year, PIT receipts are $2.58 billion higher than anticipated in the proposed budget. Traditionally, April is the state’s peak month of PIT collection.
April corporation taxes of $2.40 billion were $78.4 million higher than forecasted in the governor’s proposed budget. For the fiscal year to date, total corporation tax receipts are 13.5 percent above assumptions released in January.
Sales tax receipts of $946.1 million for April were $139.1 million, or 17.2 percent, higher than anticipated in the governor’s FY 2018-19 budget proposal. For the fiscal year, sales tax receipts are in line with the proposed budget’s expectations.
Unused borrowable resources through April exceeded January projections by 36.9 percent. Outstanding loans of $4.52 billion were $6.35 billion less than the governor’s proposed budget expected the state would need by the end of April. The loans were financed entirely by borrowing from internal state funds.
- Details
- Written by: California Controller’s Office
SACRAMENTO – California Attorney General Xavier Becerra, working with the California Governor’s Office of Emergency Services, uncovered more than 2,000 computers and other electronic devices infected by malicious software, or malware.
Attorney General Becerra announced this week that the California Department of Justice sent letters to communication service providers encouraging companies to inform customers with identified Internet Protocol, or IP, addresses that their devices may contain the malware.
The finding stems from a cyberattack that occurred in March 2018. Malware attacks involve the installation of unwelcome software without the user’s consent. The impacted devices receive and obey commands from an outside common source.
“We know that once a computer is infected with malware, the malware operators virtually own that device and can do most anything they want. That’s why it is critical that we continue to identify cybercrimes and take action against those who deploy malware,” said Becerra. “Today we took steps to identify one of these cyberattacks. We continue to analyze the malware and work to hold the attackers accountable.”
“This type of cyber-attack is a persistent approach for bad actors. Both hackers and organized crime entities use networks of compromised computers or 'bots' to transmit malware or to launch attacks to disrupt nearly any computer system, including critical infrastructure and our personal networks,” said Cal OES Director Mark Ghilarducci. “The California Cybersecurity Integration Center is working jointly with the Attorney General’s Office to identify these bad actors and their networks and get them shut down. We must continue preparing for and responding to cyber events with precision, and that requires a proactive approach.”
Malware attacks can lead to an outside source using someone’s device to send spam, steal data, place ransomware programs on computers, turn computer cameras or microphones on, or use the computer to store data.
Attorney General Becerra is committed to containing the spread, operation, and impact of cyberattacks and educating consumers in California about how best to protect themselves from cybercrime.
Attorney General Becerra announced this week that the California Department of Justice sent letters to communication service providers encouraging companies to inform customers with identified Internet Protocol, or IP, addresses that their devices may contain the malware.
The finding stems from a cyberattack that occurred in March 2018. Malware attacks involve the installation of unwelcome software without the user’s consent. The impacted devices receive and obey commands from an outside common source.
“We know that once a computer is infected with malware, the malware operators virtually own that device and can do most anything they want. That’s why it is critical that we continue to identify cybercrimes and take action against those who deploy malware,” said Becerra. “Today we took steps to identify one of these cyberattacks. We continue to analyze the malware and work to hold the attackers accountable.”
“This type of cyber-attack is a persistent approach for bad actors. Both hackers and organized crime entities use networks of compromised computers or 'bots' to transmit malware or to launch attacks to disrupt nearly any computer system, including critical infrastructure and our personal networks,” said Cal OES Director Mark Ghilarducci. “The California Cybersecurity Integration Center is working jointly with the Attorney General’s Office to identify these bad actors and their networks and get them shut down. We must continue preparing for and responding to cyber events with precision, and that requires a proactive approach.”
Malware attacks can lead to an outside source using someone’s device to send spam, steal data, place ransomware programs on computers, turn computer cameras or microphones on, or use the computer to store data.
Attorney General Becerra is committed to containing the spread, operation, and impact of cyberattacks and educating consumers in California about how best to protect themselves from cybercrime.
- Details
- Written by: California Attorney General's Office
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