New York state revenue is projected to increase thanks to higher-than-anticipated Wall Street revenue and tax receipts, the state budget director said Wednesday.
State tax revenue is expected to increase by $5.3 billion in the next fiscal year, the budget director, Blake Washington, said during a meeting of budget officials from the Legislature and governor’s office.
Bonuses from a stronger-than-expected performance by Wall Street firms and a jump in personal income tax collections are projected to drive the increase. The current fiscal year also benefited from the boost, bringing New York’s total tax revenue for this fiscal year up to ...