New York State Tax Revenue Exceeds Estimate By Almost $5 Billion

July 16, 2021, 3:21 PM

New York State collected $4.8 billion more in taxes in the first three months of the fiscal year than projected in the budget enacted in April, giving the state an opportunity to boost reserves and use cash instead of debt for infrastructure projects, state Comptroller Thomas DiNapoli said.

  • “Strong tax collections, coupled with an unprecedented infusion of federal aid, give the state an opportunity to improve its long-term fiscal stability and better prepare for future uncertainties,” DiNapoli said in a news release
  • Personal income tax collections are $3.6b more than projected
  • Sales tax collections totaled $4.8b, 43.4% higher than the ...

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