Local sales tax collections in New York state increased by 1.5% in April compared to the same month in 2023, according to data released today by State Comptroller Thomas P. DiNapoli. Overall, local collections totaled $1.76 billion, up $26.1 million from the same time last year.
“Growth in local sales tax collections for April was modest for the third straight month and mostly driven by New York City,” DiNapoli said. “Over two-fifths of counties experienced year-over-year declines for the month. My office will continue to provide regular reporting to help local officials better understand how sales tax is performing in their part of the state.”
In April 2024:
- New York City’s collections totaled $786 million, an increase of 3.9%, or $29.5 million, compared to the same time last year.
- County and city collections in the rest of the state totaled $871 million, a decrease of -0.5%.
- Over 40% (25 of 57) of counties experienced year-over-year decreases.
These monthly sales tax collections are from the cash distributions made to counties and tax-imposing cities by the state Department of Taxation and Finance. The amounts are based on estimates of what each municipality is due. In the third month of each calendar-year quarter, these distributions are adjusted upward or downward, so that the quarter as a whole reflects reported sales by vendors. The next quarterly numbers (for April to June) will be available in July.
Table
No comments:
Post a Comment