State’s Revenues Improve

California’s fis­cal out­look is get­ting brighter. The Leg­isla­tive Analyst’s Office now says the state will fin­ish the month five-billion dol­lars ahead. Increased income tax rev­enues and state and fed­eral tax changes are being cred­ited. The LAO says the prospect of higher fed­eral tax rates prompted some top earn­ers to take more cap­i­tal gains and div­i­dends in 2012.