N.Y. Tax Revenue Plummeted 68% in April, State Comptroller Says
- Personal income tax revenue declined $7 billion: DiNapoli
- New York’s cities and counties face $8.2 billion in cuts
This article is for subscribers only.
New York state’s tax revenue plummeted 68.4% in April, as the coronavirus lockdowns and the extension of tax return filings to July 15 took a toll on state coffers.
The Empire State collected $3.7 billion, or $7.9 billion less than the previous April. Personal income-tax revenue fell more than $7 billion from last April, a drop that was primarily due to the delayed tax filing deadline.