June income tax collections from Franchise Tax Board are running more than $300 million over projections through June 22.

The board reports receiving nearly $4 billion in income tax payments and $187 million in refund requests. 

Gov. Jerry Brown’s revised budget, unveiled in May, expected $3.75 billion to be collected by the board in June, less $291 million in refunds. 

June has become the second largest revenue collection month for the state – almost as big as April.

That’s because the September estimated tax payment was eliminated in 2009 and the second quarter – payable June 15 – was bumped up from 30 percent to 40 percent of what’s expected Read more »