New York state tax revenue soared to $84.4 billion in the first nine months of the fiscal year, $12.9 billion more than forecast, bolstered by a business tax established in April as a work-around for federal limits placed on state and local tax deductions, state Comptroller
New York collected $10.2 billion from a “pass-through entity” tax, DiNapoli said in a news release Friday evening. He cautioned that taxpayers paying the pass-through tax are expected to reduce their personal income tax payments by similar amounts, and the December results may not reflect those offsetting reductions, “clouding our revenue ...