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State Revenues in 2001-02 (In Billions) General Fund Revenues Total State Revenues $96.9 Billion Special Funds Revenues.

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Presentation on theme: "State Revenues in 2001-02 (In Billions) General Fund Revenues Total State Revenues $96.9 Billion Special Funds Revenues."— Presentation transcript:

1 State Revenues in 2001-02 (In Billions) General Fund Revenues Total State Revenues $96.9 Billion Special Funds Revenues

2 Relative Importance of Different Revenue Sources Over Time Personal Income Tax Sales and Use Tax Bank and Corporation Tax All Other General Fund Revenues 1964-652000-01

3 Strong Personal Income Taxes Have Led Revenue Growth Average Annual Revenue Growth 1994-95 Through 1999-00 5 1015 20% Other Revenues Bank and Corporation Tax Sales and Use Tax Personal Income Tax Personal Income Growth (6.3 Percent)

4 Recent Income Gains Largest at Top End 10 20 30 40 50% Bottom2nd3rd4thTop Percent Change in Average Real Income Joint Returns By Quintile 1993 Through 1998

5 Business Services and Construction Have Led the 1990’s Expansion Annual Average Percent Change in California Jobs 1994 Through 2000 -6-4-22046810% Aerospace Federal Government Nondurable Manufacturing Finance, Insurance, and Real Estate State and Local Government Trade Other Services Electronics Manufacturing Construction Business Services All Industries 3% 550 282 63 526 448 261 60 31 -45 -44 New Jobs (In Thousands) Total 2,391

6 The State’s Software Industries Have Boomed During the Decade New Jobs, 1994 to Early 2000 10203040506070 Other Software Related Activities Computer Systems Design Packaged Software Computer Services Internet Computer Programming $96,000 129,000 88,400 145,400 105,400 61,000 Average Wage in 2000 (Thousands of Jobs)

7 Stock Market Decline to Moderate Stock Options and Capital Gains Income Included on California Tax Returns (In Billions) Stock Options Capital Gains Forecast 20 40 60 80 100 120 140 160 $180 949596979899000102


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