NY Tax Revenue Tops Forecast by $700 Million for April-September

New York state’s tax revenue of $59.9 billion exceeded projections by $702.2 million in the first six months of the state’s fiscal year, boosted by strong personal-income tax collections, state Comptroller Thomas DiNapoli said late Wednesday.

• Personal-income tax receipts totaled $33.5 billion, $756.5 million above the Division of Budget’s financial plan
  • PIT collections were $4.6 billion higher than the same period last year
• Consumption and use taxes totaled $11.9 billion, $253.4 million higher than projections
  • Sales tax receipts, the largest share of these taxes, increased $544 million, or 5.3%, through September
• Business taxes totaled almost $13 billion, $352.6 million ...