Full Tax Compliance Could Solve State’s Budget Deficit
California could close its $9.2 billion budget deficit if taxpayers paid what they owe, according to recent estimates. The California Franchise Tax Board estimates that $10 billion in state income taxes go unpaid annually, while the state Board of Equalization reports that an additional $2.3 billion in sales and uses taxes go unpaid each year.
- "If California Taxpayers Paid Up, State's Deficit Would Disappear" (Yamamura, Sacramento Bee, 4/7).